WASHINGTON — The company that operates the financial news website TheStreet.com and three executives have settled federal civil charges of accounting fraud.
The Securities and Exchange Commission said Tuesday that the company, TheStreet Inc., and the executives engaged in a scheme in 2008 to artificially inflate the company’s revenue and mislead investors. The copresidents of a company subsidiary and a former chief financial officer of the company agreed to pay a total of about $409,000 to settle the charges.
Copresidents Gregg Alwine and David Barnett were barred for 10 years from serving as officers or directors of any public company. Former CFO Eric Ashman was barred for three years.
TheStreet Inc. and the executives neither admitted nor denied the allegations.
Attorneys for the executives and company representatives didn’t immediately return calls seeking comment.