SEC Adds 'Overreach' To Its Netflix Queue

Law360, New York (December 18, 2012, 11:17 AM EST) -- On Dec. 6, 2012, Netflix Inc. announced that it had received notice from the U.S. Securities and Exchange Commission staff that it would be “recommending that the SEC bring a civil action against” Netflix, claiming that Netflix violated SEC Regulation FD when Reed Hastings, the company’s CEO, “publicly posted on Facebook to the over 200,000 [people who subscribe to his Facebook page] that our members had enjoyed over 1 billion hours in June.”[1]

The proposed Netflix Regulation FD enforcement action — if the SEC pursues it...
To view the full article, register now.