© Reuters. FILE PHOTO: Netflix login shown on an iPad on April 19, 2013 in Encinitas, California. REUTERS / Mike Blake
WASHINGTON (Reuters) – The US Securities and Exchange Commission announced on Wednesday that it has indicted three former Netflix (NASDAQ 🙂 engineers for trading non-public information about the company’s subscriber growth, which has total profits of over US $ 3 million -Dollars generated.
The SEC’s complaint filed in Seattle Federal Court alleges that the three former employees violated anti-fraud regulations and attempted to evade detection by using encrypted messaging applications and paying cash kickbacks.
The defendants can also pay fines, the SEC said.
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