Thanks to a seemingly innocuous Facebook posting by its Chief Executive Officer, Netflix is facing the prospect of the Securities and Exchange Commission bringing a civil action against the company and the CEO.
In July, the CEO cheerfully revealed to 200,000 Facebook followers that Netflix subscribers had watched a billion hours of online videos the previous month. Despite the seemingly trivial nature of this posting, the SEC has issued a Wells Notice to Netflix and its CEO, indicating that the agency is contemplating civil action for possible violations of Reg FD about disclosur
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