News Summary: Street.com firm, 3 execs settle

Updated at: 12/18/2012 4:36 PM
By The Associated Press

STREET TALK: The company that operates the financial news website TheStreet.com and three executives have settled federal civil charges of accounting fraud.

PUMPED UP PROFITS: TheStreet Inc. and the executives took part in a 2008 scheme to inflate the company’s revenue and mislead investors, the Securities and Exchange Commission says.

BARRED EXECS: The co-presidents of a subsidiary and a former CFO of the company will pay about $409,000 to settle the charges. The co-presidents were barred for 10 years from serving as officers or directors of any public company. The former CFO was barred for three years.

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