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GAIA.US

SEC Investigation into Misstatements & Whistleblower-protection Violations

On November 7, 2022, Gaia within the Q3 report disclosed a $2.0 million accrual for the anticipated settlement related to the SEC investigation.
  • Later the WSJ reported that the Company would pay a civil penalty of $2 million to settle SEC allegations that it misstated the number of paying subscribers for the quarter that ended March 31, 2019.
  • The settlement also addressed allegations that the Company’s termination of one employee and the language used in its severance agreements for other employees violated the SEC’s whistleblower protection requirements, according to the filing.
  • WSJ said Gaia’s CFO, Paul Tarell, agreed to pay an additional $50,000 to settle allegations he caused the company’s misstatements in the 2019 quarterly earnings, without admitting or denying the allegations.
Taking all allegations and the SEC involvement into account, current and former Investors have all reasons to suspect that their rights were grossly violated.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Fraud
Failure to Disclose
Malpractice
Negligence
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07 November 2022
Collecting participants…
Created by Stan Vick, Scout

Gaia Inc

Gaia, Inc. operates a digital video subscription service and on-line community for underserved member base in the United States, Canada, Australia, and internationally. It has a digital content lib...

    Ticker
    GAIA.US
    ISIN
    US36269P1049
    CIK
    1089872
    Sector
    Communication Services
    Industry
    Entertainment
    Country
    USA
    Address
    833 West South Boulder Road, Louisville, CO, United States, 80027