This type of thing really irritates me:
I don’t have a subscription so couldn’t read the piece, but I have read some summary articles: bottom line is it appears a director used money reserved to make content for Netflix for speculative trading instead. I’ll have to track down a copy of this issue, as some have commented it is a great read. (And it does appear so; and yes, everyone is saying NFLX should try to recoup some of the lost money by making a documentary; I would seriously agree with that)
Most annoying is the director seems to be using a tool normally used as a weapon on the studio side: arbitration. I guess he initiated the process to keep proceedings confidential, and to get what he believes are damages due him!
As a shareholder of the company, I believe NFLX should be more forthcoming about what happened and not just say it was written off; that does not satisfy me. I think there is too much secrecy in general with these types of things and believe for public companies all lawsuits should be public (see the secrecy behind “The Walking Dead” lawsuit with AMCX as an example; how can shareholders and analysts assess that without information).
Anyway, I post this here if anyone is interested…