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Netflix, Inc. Message Board

  • ymb_losers ymb_losers Feb 19, 2013 11:13 PM Flag

    Shareholder Lawsuit Filed over Hastings Facebook posting, I know longs, I know...

    big deal!

    But this guy's lawyers could have some insight (or at least a decent hunch) that the SEC will issue charges against Hastings and the company over this. It was clearly material as it did pop the stock and most definitely was not properly disclosed to the public via SEC filing. Not everyone is on Facebook and even it is picked up as a story by various media that still does not constitute proper public disclosure under SEC regs.

    The SEC under new leadership definitely does not want to set a precedent by which any CEO can select a social media outlet of his/her choice to disclose MATERIAL information.

    I believe this could result in a substantial fine. The market right now is completely discounting this possibility.

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