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Netflix CEO’s Facebook Post Ires SEC

Agency questions CEO Hastings comment about the companys June viewing hours.

By Cliff Edwards, Bloomberg | Updated on December 07, 2012

Netflix Inc. and Chief Executive Officer Reed Hastings said they may face a U.S. Securities and Exchange Commission civil claim over a July Facebook post that coincided with the stock’s biggest gain in almost six weeks.

SEC staff alleges Netflix and its CEO violated rules governing selective disclosure, according to a company filing yesterday. The July 3 post by Hastings said Netflix viewing “exceeded 1 billion hours” of videos in June. The shares rose 6.2 percent that day.

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