Companies Can Now 'Friend' Investors
Netflix CEO won't be penalized for Facebook post
Companies can now "friend" their investors to communicate market-moving news. Facebook and other social media platforms were cleared by the Securities and Exchange Commission to announce key information as long as the companies let investors know where to find that information first.
The report, issued Tuesday, stemmed from an investigation into the activities of Netflix CEO Reed Hastings, who last July posted on his personal Facebook page that the company's monthly online viewing had exceeded 1 billion hours for the first time.
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