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8-K’s Announcing Reg FD Social Media Channels Begin; NYSE Weighs In

by Jill Radloff | Leonard, Street and Deinard - Dodd-Frank and... on 4/19/2013

The SEC opened the barn doors on use of social media, or merely reaffirmed existing guidance, depending on your point of view, in a recent Section 21(a) report....more

SEC Greenlights Use of Social Media for Publicly Disclosing Company Information

by Fernando Bohorquez, Jr., Jonathan Nowakowski | BakerHostetler on 4/19/2013

Recognizing the reality that many investors likely get more information from Facebook and Twitter than a corporate 10-K and that most public companies have a robust social media presence, the U.S. Securities and Exchange...more

Be Careful What You Wish For: SEC Permits Company Disclosures Via Social Media If Regulation FD Requirements Are Met

by Meredith Francis | Womble Carlyle Sandridge & Rice, PLLC on 4/16/2013

Last week, the Securities and Exchange Commission issued a report clarifying that companies can use social media channels, such as Facebook and Twitter, to disseminate material nonpublic company information under Regulation...more

Lessons from Netflix on the Use of Social Media for Informal Disclosure

by Bonnie J Roe | Cohen & Gresser LLP on 4/12/2013

On April 2, 2013 the Securities and Exchange Commission (SEC) issued a report (the Netflix Report) announcing that it would not pursue enforcement action against Netflix, Inc. and its Chief Executive Officer, Reed Hastings,...more

SEC ‘Likes’ Public Company Disclosures on Facebook and Other Social Media

by Jeff Ifrah on 4/11/2013

Last December, we wrote about the U. S. Securities and Exchange Commission’s issuance of so-called “Wells” notices indicating that the agency was considering whether to bring enforcement proceedings against Netflix and its...more

Using Social Media to Disclose Corporate Facts?

by J. Quinn | Dinsmore & Shohl LLP on 4/11/2013

On April 2, 2013, the Securities & Exchange Commission issued a Report of Investigation clarifying that a public company may use social media outlets such as Facebook and Twitter to disseminate material information to...more

Safe Tweeting: SEC Provides Guidance on Social Media and Regulation FD Compliance

by Theresa Lee, Brian Wong | Pillsbury Winthrop Shaw Pittman LLP on 4/11/2013

The SEC has provided guidance to publicly reporting companies on how to use popular social networking sites, such as Facebook and Twitter, consistent with federal securities laws. On April 2, 2013, the Securities and...more

Social Media For The CEO: Lessons Learned From The Netflix/SEC Tussle And Reg FD

by Travis Crabtree | Looper Reed & McGraw, P.C. on 4/10/2013

Yes, you can use social media to make material public disclosures. The SEC did not punish Netflix CEO Reed Hastings. The reality is, however, the SEC gave a warning to executives: we are not going to do anything this time...more

The SEC Provides Guidance on the Use of Social Media for Public Company Disclosure

by Julie Allen, Peter Castellon, Peter Fass, Frank Zarb | Proskauer Rose LLP on 4/10/2013

On April 2, 2013, the Securities and Exchange Commission issued a "report of investigation" that provides important guidance for companies that wish to use social media outlets, such as Facebook and Twitter, to publicly...more

SEC Provides Guidance Regarding Social Media and Regulation Fair Disclosure (Regulation FD)

by Andrew Halbert, Mark Wood | Katten Muchin Rosenman LLP on 4/9/2013

On April 2, in connection with an investigation of Netflix, Inc. and its Chief Executive Officer, Reed Hastings, regarding a possible violation of Regulation FD, the Securities and Exchange Commission released a Report of...more

SEC Approves Communications Via Social Media

by Kathryn L. Ossian | Miller Canfield on 4/9/2013

The Securities and Exchange Commission (“SEC”) has taken a new position that publicly traded companies may use social media to communicate information to investors, so long as investors are first advised of the communication...more

A Brief Primer for Corporate Social Media Disclosures in Light of the SEC’s Recent Guidance on Regulation FD

by Bradley Bondi, Douglas Fischer, Brett Sisto, Christopher Tierney, Karen Woody | Cadwalader, Wickersham & Taft LLP on 4/9/2013

The Securities and Exchange Commission ("Commission" or "SEC") recently stepped into the social media age with its April 2, 2013 Report of Investigation pursuant to 21(a) of the Securities Exchange Act of 1934 concerning a...more

SEC Decides That Companies May Use Social Media

by Dean Hanley | Foley Hoag LLP on 4/8/2013

The Netflix Investigation - On July 3, 2012, the CEO of Netflix, Reed Hastings, used his personal Facebook page to announce that Netflix had streamed 1 billion hours of content in the month of June. As the Securities...more

SEC's Netflix Report Confirms Ability to Use Social Media for Reg. FD Disclosures but Cites Risks

by Mark Plichta, Patrick Quick, Kenneth B. Winer | Foley & Lardner LLP on 4/8/2013

In connection with a Facebook post by Netflix CEO Reed Hastings, the SEC issued a report of investigation on April 2, 2013 (Netflix Report) indicating that Regulation FD permits a company to announce material information...more

SEC Outlines Position on FD Disclosure Using Social Media

by Dana Fritz, Herman Raspé, Peter Schaeffer | Patterson Belknap Webb & Tyler LLP on 4/8/2013

The Securities and Exchange Commission (SEC), on April 2, 2013, outlined a new disclosure position that clarifies that public companies can use social media outlets like Facebook and Twitter to announce key information in...more

SEC Provides Guidance on the Use of Social Media to Disseminate Investor Information

by Ropes & Gray LLP on 4/8/2013

On April 2, 2013, the Securities and Exchange Commission issued a report clarifying existing guidance to confirm that public companies may use social media outlets, such as Facebook and Twitter, to announce key information in...more

From Facebook to FD: SEC Releases Guidance on Use of Social Media

by Bruce Cheatham, Elizabeth Day, Rebecca Morley | Bracewell & Giuliani LLP on 4/8/2013

On April 2, 2013, the Division of Enforcement of the U.S. Securities and Exchange Commission released guidance on the use of social media to disseminate material, nonpublic information under Regulation FD (Fair Disclosure)....more

Social Media Use By Public Companies – The SEC Weighs In

by Robert Friedel, Andrew Kupchik | Pepper Hamilton LLP on 4/5/2013

The increasing presence of social media has created new avenues for companies to market to and connect with consumers, customers and investors. Many heads of industry maintain very public profiles, appearing regularly on...more

SEC Publishes Report on Reg. FD and Social Media – Joy, Vexation Follow

by David Smyth | Brooks Pierce on 4/5/2013

You probably remember a dustup from a few months ago when the SEC threatened to sue Netflix for violations of Regulation FD. Basically, the rule says that when a public company gives material nonpublic information to anyone,...more

Corporate and Securities Alert: SEC Guidance on Using Social Media to Disclose Material Non-public Information

by Horace Nash, Jeffrey Vetter | Fenwick & West LLP on 4/5/2013

On April 2, 2013, the Securities and Exchange Commission issued noteworthy guidance on the use of social media to disclose material information in compliance with Regulation FD (Fair Disclosure)....more

SEC Has Conditional “Like” for Social Media Disclosures by Securities Issuers—A Reason to Reevaluate Electronic Communications...

by Wai Choy | Proskauer - New Media & Technology on 4/5/2013

The U.S. Securities and Exchange Commission gave disclosures made through social media platforms such as Facebook and Twitter a conditional “thumbs up” in a Report of Investigation it released on April 2, 2013. Issuers of...more

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