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Comscore, the influential analytics firm that measures web traffic, has been formally accused of falsely reporting its own revenue and customer numbers. The US Securities and Exchange Commission (SEC) charged Comscore and its former CEO Serge Matta with fraud today. Matta and Comscore agreed to settle the case for a total of $5.7 million without admitting wrongdoing.
The SEC writes that between 2014 and 2016, Comscore padded its public revenue filings with an extra $50 million by misreporting the value of data-swapping contracts with other companies. It also allegedly misreported its customer numbers and growth percentages, giving the impression that new signups and revenue growth were increasing when the opposite was actually true.