By Adam L. Cataldo

The Securities and Exchange Commission said on Friday that a final judgment had been entered against the former chief financial officer of Synchronoss Technologies for accounting misconduct.

Karen Rosenberger agreed to be barred from holding officer and director positions as part of the judgment, the SEC said. She also agreed to pay $125,000 in civil monetary penalties and reimburse the company for more than $430,000 in compensation.

Rosenberger didn't admit or deny the allegations made in the complaint, the SEC said.

The SEC said in its complaint that Rosenberger's misconduct caused company revenue to be overstated, and that she aided and abetted in the public filing of materially false financial statements in connection with five transactions. Rosenberger then sought to cover up that misconduct by lying to the company's auditor, falsifying books and records, the SEC said.

"The Complaint alleged that the impact of the improper accounting was material, and in certain instances, allowed Synchronoss to meet revenue expectations it otherwise would not have met," the SEC said.

Write to Adam Cataldo at adam.cataldo@wsj.com.


(END) Dow Jones Newswires

06-14-24 1833ET