I think alot of people are missing the point here.
There are specified channels for disclosing "material" information.
These have been designed and vetted so that everyone at least has the chance of getting the same information at the same time.
The SEC may be a bit dated but I think everyone agrees that you can't have CEO's passing out information in private or non sanctioned forums that people can trade on.
Otherwise everyone would have to watch Facebook feeds and twitter and Google+ and every blog in addition to the sanctioned channels.
I don't see any way in which the Netflix CEO didn't do the wrong thing here.
There are specified channels for disclosing "material" information.
These have been designed and vetted so that everyone at least has the chance of getting the same information at the same time.
The SEC may be a bit dated but I think everyone agrees that you can't have CEO's passing out information in private or non sanctioned forums that people can trade on.
Otherwise everyone would have to watch Facebook feeds and twitter and Google+ and every blog in addition to the sanctioned channels.
I don't see any way in which the Netflix CEO didn't do the wrong thing here.
I do agree that the SEC has bigger fish to fry