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Stock Market & Financial Investment News

News Breaks
December 18, 2012
12:44 EDTTSTSEC charges former CFO of TheStreet with accounting fraud
The SEC alleges that TheStreet (TST), which operates the website TheStreet.com, filed false financial reports throughout 2008 by reporting revenue from fraudulent transactions at a subsidiary it had acquired the previous year. The SEC also alleges that TheStreetís former CFO Eric Ashman caused the company to report revenue before it had been earned. Ashman agreed to pay a $125,000 penalty and reimburse TheStreet $34,240.40 under the clawback provision of the Sarbanes-Oxley Act, and he will be barred from acting as a director or officer of a public company for three years. Reference Link
News For TST From The Last 14 Days
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April 15, 2015
17:31 EDTTSTJ. Carlo Cannell reports 8.85% stake in TheStreet, urges 'withhold vote'
Cannell, on behalf of the Investment Vehicles, identified the company as an entity satisfying each Investment Vehicle's investment criteria. The Investment Vehicles acquired and continue to hold the Shares as a long-term investment. Cannell reserves the right to discuss various views and opinions with respect to the company and its business plans with the company or the members of its senior management. The discussion of such views and opinions may extend from ordinary day-to-day business operations to matters such as nominees for representation on the company's board of directors, senior management decisions and extraordinary business transactions. Cannell reserves the right to take such action as he may deem necessary from time to time to seek to maximize the value of the Shares. Such actions may include, but may not necessarily be limited to, pursuit of strategic initiatives to enhance shareholder value. A shareholder of the Company since 2011, Cannell filed the original Schedule 13D on December 2, 2014 in which he articulated a significant structural conflict which he believed precludes all shareholders of the company from enjoying the value to which they are entitled and deserve. One hundred and twenty five days having passed with scant evidence of collaboration or argument to the contrary, Cannell today amends the Initial 13D to call for all Shareholders of the company to cast a "withhold vote" for any and all director election proposals and management compensation proposals appearing on the proxy solicitation form for the company's 2015 annual shareholder meeting.

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