Investors who are current long term investors in TheStreet, Inc. (NASDAQ:TST)
The investigation by a law firm concerns whether certain TheStreet officers and directors breached their fiduciary duties and caused damage to the company and its shareholders. More specifically, the investigation relates to a civil lawsuit filed by the Securities and Exchange Commission (“SEC”) against TheStreet, Inc. alleging the Company improperly recognized revenue throughout 2008 at a former subsidiary of the Company.
TheStreet, Inc. reported that its annual Revenue declined from $70.85 million in 2008 to $57.76 million in 2011 and its Net Income of $0.55 million in 2008 decreased to a Net Loss of $8.18 million in 2011.
Shares of TheStreet, Inc. (NASDAQ:TST)
On Jan 18, 2013, NASDAQ:TST shares closed at $1.60 per share.
Those who are current long term investors in TheStreet, Inc. (NASDAQ:TST)