Washington (June 29, 2004) -- TV Guide publisher Gemstar agreed to pay a $10 million civil penalty to settle Securities and Exchange Commission charges that alleged that the company overstated revenues by nearly $250 million over a three-year period.
The SEC's complaint, filed in federal court in Los Angeles last week, charged Gemstar-TV Guide International Inc. with improperly reporting revenues from its interactive program guide licensing and advertising from 1999 through 2002. The company did not admit or deny the allegations.
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