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Netflix And Steal? Netflix Accused Of Trying To Poach Fox Execs

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Netflix And Steal? Netflix Accused Of Trying To Poach Fox Execs

Shares of Netflix, Inc. (NASDAQ: NFLX) were trading higher by more than 0.50 percent early Monday morning despite a report that the company is being sued for poaching two senior executives from Twenty-First Century Fox Inc (NASDAQ: FOX) (NASDAQ: FOXA).

According to CNN Money, Fox 21 is arguing that Netflix oversaw a "brazen campaign to unlawfully target, recruit, and poach valuable Fox executives by illegally inducing them to break their employment contracts with Fox to work at Netflix."

Related Link: No Chill: Macquarie Downgrades Netflix To Underperform, Sees 73 Million Intl. Subs By 2019

The two executives are Tara Flynn, vice president of creative affairs at Fox 21, and Marcos Waltenberg, vice president of promotions.

Fox 21 said in its suit, which was filed on Friday at a California Superior Court in Los Angeles, it is seeking a permanent injunction to prohibit Netflix from "interfering with executives under contract as well as compensatory and punitive damages."

"As our complaint explains, we filed this lawsuit because we believe Netflix is defiantly flouting the law by soliciting and inducing employees to break their contracts," a spokesperson with Fox 21 told CNN Money.

Netflix didn't immediately respond to a request for comment from CNN Money but was quoted by other media sources as saying in a brief statement that it will "defend this lawsuit vigorously."

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Posted-In: cnn money Fox 21 Marcos Waltenberg Tara FlynnNews Management Movers Tech Media Best of Benzinga

 

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