Netflix Rejects Claims That Exec Bonuses Hurt Shareholders

By Emily Brill (June 11, 2018, 10:12 PM EDT) -- Netflix Inc. asked a California federal judge Friday to toss a shareholder suit accusing the streaming service of misclassifying executives' "exorbitant" bonuses for tax purposes, saying the shareholder failed to either notify Netflix's board before suing or prove the board couldn't fairly handle the issue.

Netflix said none of its board members benefited from the company's executive bonus plan, so they would have been able to impartially respond to the demand made by the shareholder — the City of Birmingham Relief and Retirement System — to change that plan.

"A majority of the board is independent and disinterested with regard to...

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