MORE TROUBLES FOR NETFLIX
As if Netflix didn’t already have enough problems to sort out, now comes word from a website called Disclosure Insight that the online video rental company is the target of an investigation by the Securities and Exchange Commission. “In a letter dated [Dec. 1], we received information from the SEC suggesting this company was involved in unspecified SEC investigative activity,” the site reported. “We found no disclosure of the same as of this date.” Netflix declined to comment on the report, but rumors have circulated for months that the SEC is displeased with the manner in which the company reports in its filings its expenses and other obligations to content providers. Netflix shares slipped nearly 2 percent on Thursday and were down fractionally again at midday today (Friday).