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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, 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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October 7, 2014
18:29 EDTTSTOn The Fly: After Hours Movers
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16:03 EDTTSTTheStreet to acquire Management Diagnostics
TheStreet announced it signed a definitive agreement to acquire Management Diagnostics, the developer of the leading relationship capital management service BoardEx. TheStreet expects to pay net cash consideration of approximately $21M at closing. In addition, an earn-out may be payable in 2018 based on 2017 net revenue of BoardEx's existing products and services, subject to adjustment. The acquisition is expected to close during the Q4, subject to customary closing conditions.

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