News Summary: firm, 3 execs settle

AP News
Posted: Dec 18, 2012 4:17 PM

STREET TALK: The company that operates the financial news website 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.