a streaming video business focusing on yoga and alternative health, said the company and its chief financial officer have agreed to pay a total of $2.05 million to resolve an investigation by the U.S. Securities and Exchange Commission, according to company filings.
Louisville, Colo.-based Gaia said it would pay a civil penalty of $2 million to settle SEC allegations that it misstated the number of paying subscribers for the quarter ended March 31, 2019, when the company extended a free month of service to certain subscribers, according to the filing. Representatives for Gaia and Mr. Tarell didn’t respond to requests for comment. The SEC declined to comment.
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