Law \ Legal

Streaming Yoga Company At Peace With Lying, Anti-Whistleblower Allegations

Mindfulness is a practice and not an achievement. And yoga video streamer Gaia Inc. was certainly a bit less than mindful about the number of paying subscribers it boasted about, as well as about the Securities and Exchange Commission’s whistleblower protection rules. So it and its CFO are letting go of $2 million and change, if that kind of thing matters to you. (It does to the SEC.)

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.

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.

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