1. Home
  2. Netflix CEO Investigated for Facebook Post
  • Sign up
  • Sign in
Money Talks News
  • Popular
  • Latest
    • Coronavirus
    • Ask Stacy
    • Make
    • Save
    • Borrow
    • Grow
    • Live
    • More
  • Deals
    • Automotive
    • Clothing & Accessories
    • Computers
    • Electronics
    • Everything Else
    • Financial Services
    • Gaming & Toys
    • Health & Beauty
    • Home & Garden
    • Movies, Music & Books
    • Office & Supplies
    • Special Occasion
    • Sports & Fitness
    • Store Events
    • Travel & Entertainment
  • Podcasts
  • Solutions
  • Academy
  • Subscribe to our newsletter
  • Follow us on Facebook
  • Follow us on Twitter
  • Search our site
Shocked couple looking in clothes dryer at laundry6 Things You May Not Know a Clothes Dryer Can Do
Excited man on phone looking at laptop in surprise11 Services You Didn’t Know Social Security Offers
Happy older investor6 Things You Must Do When Your Savings Reach $100,000
PuppiesAmerica Has a New Favorite Dog Breed — for the First Time in 31 Years

Netflix CEO Investigated for Facebook Post

Can businesses get in trouble with the government for sharing good news on social media? Maybe.

Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend.

Brandon Ballenger • December 7, 2012

Share on Facebook Share on Twitter Share by Email Printable version available to members PDF version available to members
Image Not Available

CNN Money explains…

In a Facebook posting on July 5, Hastings said that Netflix customers were viewing more than 1 billion hours of video content a month. Information that the company was approaching 1 billion hours had appeared on the company’s blog the month before. But in neither case did the company issue a formal press release or make a separate filing with the SEC disclosing the billion hour statistic.

The posting was widely reported and Netflix stock rose 13% the day of the posting.

On Thursday, Netflix disclosed in a new posting, an SEC filing and a news release that Hastings and the company received a Wells Notice from the SEC. The notice says the agency staff will recommend regulators institute a cease-and-desist proceeding and/or bring a civil injunctive action for violations of the agency’s fair disclosure rules.

Companies have to publicly disclose information that may have a “material” impact on shareholders. Hastings said in his new post, “posting to over 200,000 people is very public, especially because many of my subscribers are reporters and bloggers.”

  Like Article   Add a Comment

Sign up for our free newsletter!

Simple ways to make, save, and grow your money daily:

  happy subscribers    
MTN Podcasts

Every week our podcasts bring you lively money discussions that will give you a few laughs along with advice that will make you richer.

Money with Stacy Johnson

Listen/Subscribe

Read Next

Some of our favorite stories for you to read next.

Couple planning their investments
The 6 Best Investing Apps for Beginners
Young woman watching streaming TV
17 Streaming Services That Are Completely Free
Secret Ways to Save on Netflix
Secret Ways to Save on Netflix
Sign up for our free newsletter!

Join our many free newsletter subscribers building wealth and destroying debt:

Popular Topics
  • Retirement Investment
  • Surveys for Money
  • How to Make Money Online
  • Emergency Stockpile
  • Free Movie Streaming
  • Senior Discounts
Connect
  • Support & FAQs
  • Memberships
  • About
  • Contact
  • Careers
  • Accessibility Statement
Media
  • Television
  • Where We Air
  • Scripts
  • Sitemap
Legal
  • Terms
  • Privacy
  • Cookies
Editorial
  • Fact-Checking Policy
  • Ethics Policy
  • Corrections Policy
  • Ownership & Funding Info

Do Not Sell My Personal Information

© 2023 Money Talks News. All Rights Reserved.
‭1 (833) 669-8557 | 1732 1st Ave #26661, New York, NY 10128

Advertising Disclosure: This site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.

Cookie Notice

Our website uses cookies to ensure you get the best browsing experience. By using our website, you agree to our use of cookies. Visit our Cookie Policy and Privacy Policy to learn more.

Sign up for our free newsletter!

Join our happy subscribers and sign up for our free newsletter! You'll get:

  • Tips and advice from our expert money reporters. (Our average experience is 18 years!)
  • Unexpected ways to make more and spend less, delivered to you daily.
  • The best deals and coupons to save on everything you buy.