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Netflix (NFLX) -1.4% AH after disclosing the SEC has provided a "Wells notice" indicating likely...

Netflix (NFLX) -1.4% AH after disclosing the SEC has provided a "Wells notice" indicating likely action against the company and CEO Reed Hastings over a Reg-FD violation. The notice is related to a July Facebook post in which Hastings bragged Netflix had streamed over 1B hours in June. Many immediately thought Hastings had run afoul of SEC disclosure rules; it looks like the agency agrees.
Comments (3)
  • Bill Maurer
    , contributor
    Comments (4967) | Send Message
     
    Brought this up after it happened, Herb Greenberg made a great point about this.

     

    http://seekingalpha.co...
    6 Dec 2012, 05:51 PM Reply Like
  • Josh Krause
    , contributor
    Comments (1361) | Send Message
     
    Fire Hastings. Been saying it for a year. The man cannot competently the run the company. Evidence has been piling up but this is the cherry on top.
    6 Dec 2012, 06:07 PM Reply Like
  • Lakeaffect
    , contributor
    Comments (1030) | Send Message
     
    Hastings should have just stolen the customer's money. Then he could go to France instead of getting bothered by the SEC.

     

    John C.
    6 Dec 2012, 07:11 PM Reply Like
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