Why would all these law firms initiate law suits? One major flaw about Hastings! Why would he be doing share buybacks as he knew that they needed a lot of funds for financing future content? It appears that those buybacks helped Hastings sell his stock options at nice premiums! They are doing horrible in Great Britain as Amzn is killing them!
That is why I said SEC is an useless division and might as well shut it down. Reed using company's money to do shares buy back around $128 while himself kept selling all his holding to zero share. Using company's funds to pump stock while himself sold high and left the shareholders to hold the bag. This is already pretty obvious insider trading fraud and a total misleading every shareholder. He shall be prosecuted, but SEC kept the blind eyes for such obvious fraud and insider trading. Like I said many times, justice is not served in this country. In many case, the little guys get to hold the bag while the CEOs walks off free.