That's how it rolls at Netflix. The board "determines" what is in the "best interest" of Netflix and its stockholders, even if most of these stockholders think otherwise. Where's the Securities and Exchange Commission when you need it? There should be laws that actually get enforced against this type of behavior. Follow @RoccoPendola At the time of publication, Rocco Pendola held no positions in any of the stocks mentioned in this article.
The poison pill isintended to protect Netflix and its stockholders from efforts to obtain control of Netflix that the board of directors determines are not in the best interests of Netflix and its stockholders, and to enable all stockholders to realize the long-term value of their investment in Netflix.