LXBN TV: SEC Upset with Netflix CEO Over Facebook Post, Needs to Get with the Times—Robert White, Jr.

By | LXBN | December 17, 2012
Robert White Jr

Make no mistake, the Securities & Exchange Commission has a lot on its plate right now—from the JOBS Act, to combatting insider trading to a number of other things. With that in mind, getting their rules and regulations up-to-date during a time in which the technological landscape is changing drastically probably isn’t their highest priority. As a result, incidents like the one between the SEC and Netflix and its CEO tend to happen. See, Netflix CEO Reed Hastings shared a bit of news via a Facebook post; the SEC labeled it as “selective disclosure” and is now going after both Netflix and Hastings.

Courts Preliminarily Approve Settlements in Netflix and Blockbuster Video Privacy and Protection Act Class Actions

Two Federal District Courts recently approved settlements in two significant class actions brought under the Video Privacy and Protection Act, 18 U.S.C. § 2710, et seq. (“VPPA”), which limits the disclosure of personally identifiable information about subscribers as well as the amount of time that video rental service providers can retain subscriber information.

Lawsuits in the Social Networking World Recall the Days of the Dot Com Crash

By | The D & O Diary | August 3, 2012
Lawsuits in the Social Networking World Recall the Days of the Dot Com Crash

In a July 27, 2012 article entitled “In Sliding Internet Stocks, Some Hear Echo of 2000” (here), the New York Times detailed how the shares of some of the hottest publicly traded social networking and Internet companies have been hammered recently. The Times suggested that as the companies’ shares dropped “there were instant echoes of the crash of 2000, when the money stopped flowing, the dot-coms crumbled and Silicon Valley devolved into recriminations and lawsuits.”

Netflix to Settle Video Privacy Suit

By | Inside Privacy | May 30, 2012

According to court documents filed last week, Netflix has agreed to change its data storage practices and pay about $9 million to settle allegations that it unlawfully retained and disclosed customers’ video-viewing histories.  Specifically, Netflix agreed to decouple viewing history from identification information once users have been inactive for a year; to pay $30,000 to the class representatives; to pay up to $2.25 million to class counsel; and to give the remaining funds to nonprofit organizations that provide privacy-related education.