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Comscore stock plunges after SEC fruad charges

Brittany De Lea

American media analytics company Comscore’s stock fell again during the trading day on Thursday, after the Securities and Exchange Commission charged it and former CEO Serge Matta with accounting and disclosure fraud.

Shares of Comscore closed about 6.5 percent lower on Thursday, trading at about $1.92. The stock has fallen more than 9% during the past five days and more than 86 percent so far this year.

The recent slide, however, comes on the heels of accusations lobbied by the SEC that the company falsely reported data, including revenue and customer numbers.

Comscore measures audiences across a variety of platforms.

The SEC charged Comscore and Matta with fraud on Tuesday, alleging the company overstated revenue by about $50 million.

According to the SEC, between 2014 and 2016 Comscore engaged in a scheme whereby it entered into non-monetary transactions and then improperly recognized revenue on those transactions.

Without admitting wrongdoing, Comscore and Matta agreed to pay penalties worth $5 million and $700,000, respectively.

In a statement on Tuesday, the company said the incident occurred under prior management — calling it a “legacy issue.”

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