SEC Sues Ex-Netflix Software Engineers for Insider Trading

(Bloomberg) — Three former Netflix Inc. software engineers and two close associates were sued by federal regulators for profiting $3 million by trading on confidential information about the company’s subscriber growth.Sung Mo “Jay” Jun, 49, while employed at Netflix in 2016 and 2017, repeatedly tipped non-public subscriber information to his brother, Joon Mo Jun, and his close friend, Junwoo Chon, who both used it to trade in advance of multiple Netflix earnings announcements, according to a We


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