The Securities and Exchange Commission has charged the media company TheStreet Inc., which publishes the financial news site TheStreet.com, and three of its executives with accounting fraud, accusing them of artificially inflating company revenues and misstating their operating income to investors.
The SEC alleges that TheStreet Inc filed false financial reports throughout 2008 by reporting revenue from fraudulent transactions at a subsidiary it had acquired the previous year. The company did not immediately respond to a request for comment.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access