Netflix Being Investigated By The SEC For CEO Reed Hastings’ Public Facebook Posts

view story

http://techcrunch.com – As if Netflix didn’t have enough problems: The company announced today that it is being investigated by the SEC for a post that CEO Reed Hastings had made on his public Facebook page in June. In an SEC filing earlier today, Netflix reported that it received a notice from the regulator, which might seek a cease and desist or injunction against the subscription video company and its CEO. At issue was a post in which Hastings announced that Netflix subscribers had watched more than 1 billion hours of video in June. That post got picked up by a number of news outlets, and Netflix stock rose (IT news)