Netflix CEO is in trouble with the SEC for a Facebook posting. Reed Hastings made a posting about Netflix logging in 1 billion hours of watch. Sounds like a regular posting right and nothing wrong. Well the SEC thinks Netflix should have a institute a cease-and-desist proceeding, for a Facebook posting? The SEC thinks that investors of Netflix should have the same access as the company and if they don’t postings like the one Reed Hastings are technically illegal by SEC standards. Even though Hasting is in a lot of trouble with SEC he left the posting on the company website and has no plans on taking it down.
