Rep. Cleo Fields Purchases Netflix Stock Prior to Warner Bros. Deal Announcement
Rep. Cleo Fields, a Democratic congressman from Louisiana, has come under scrutiny for purchasing between $500,000 and $1.25 million worth of Netflix stock shortly before the company announced its acquisition of Warner Bros. This transaction, disclosed in House financial records, occurred between October 31 and November 20, just weeks before Netflix's $82.7 billion deal with Warner Bros. was made public. Fields, who is a member of the House Financial Services Committee, has faced criticism for the timing of his stock purchases, especially given his committee's jurisdiction over securities and exchanges. The stock's value has since decreased by approximately 17% from the time of his purchase. Fields has also been fined by the Louisiana Board of Ethics for failing to file a required campaign finance report. 
