If they are lucky they can force the company into BK, delist it, then buy it back for 1%(haha) of what they sold in stock and they will then own it outright, the company will still function with most of the existing customers on board and the biggest bonus is anyone dumb enough to invest in stock of a company gets what they deserve. suckers. Buy.com did this. Its legal! Probably its the dream of every CEO.
The most important thing Netflix did was make cinema quality viewing of movies device agnostic. It was, in truth, a considerable achievement in data logistics. The rest of the company was a financial scam and its executives should be thrown from helicopters over the Pacific.
$300 a share for Netflix, the only people that thought that was a valid statement, that didn't induce a category F5 headache, are the people that thought $500K for a 1200 sqft ranch house, in Anytown USA.
Netflix's management doesn't seem to understand that they're not a pre-IPO startup anymore. Reed Hastings is totally right about where video is headed, but if they keep screwing up he won't be there to reap the rewards.