Three former Netflix employees charged with insider trading

Three former Netflix employees were charged by US regulators for insider trading, using confidential data on subscriber growth of the streaming company. — AFP

US regulators on Wednesday filed insider trading charges against five people, including three former Netflix employees, accusing them of illegally using confidential data on subscriber growth at the streaming television giant.

The Securities and Exchange Commission said the group generated US$3mil (RM12.72mil) in total profits by trading on the insider information from three former Netflix software engineers.