Netflix To Settle Exec Bonus-Rigging Lawsuit

By Emily Brill (September 30, 2019, 2:21 PM EDT) -- Netflix Inc. has reached a tentative settlement in a shareholder derivative suit in California federal court that accused the company of rigging its executive bonus program to guarantee $27 million in payouts. 

The streaming service and more than a dozen of its current and former executives and board members, including CEO Reed Hastings, joined the City of Birmingham Relief and Retirement System on Friday in asking U.S. District Judge Beth Labson Freeman to vacate a case management conference while the two sides finalize their deal.

The case had reached an impasse in the spring, when Netflix refused to fork over four...

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