SAN FRANCISCO — The U.S. Securities and Exchange Commission has accused the former chief financial officer of a Bay Area tech company of using accounting tricks to cover up the failed market launch of a Roku-like video streaming product.
The agency announced Tuesday that computer accessory maker Logitech International S.A. has agreed to pay $7.5 million to settle charges that the company fraudulently boosted its financial results for fiscal year 2011 and violated other accounting rules over a five-year period. The settlement deal comes nearly two years after the company restated its financial results for fiscal years 2011 and 2012 due to accounting problems related to unsold inventory of more than 100,000 Revue devices.
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