We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

SEC Sets Sights On Netflix Over CEO's Facebook Post

Law360, New York (December 6, 2012, 9:03 PM EST) -- Netflix Inc. and its CEO Reed Hastings could face action by the U.S. Securities and Exchange Commission over Hastings’ July Facebook post revealing that Netflix members had watched more than 1 billion hours that month, the online video service said in a regulatory filing Thursday.

Netflix and Hastings received a Wells notice from the U.S. Securities and Exchange Commission on Wednesday that said the company could face either a cease-and-desist or civil injunctive suit for fair-disclosure violations allegedly prompted by the posting on the social networking...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.