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Netflix Faces Class Action Lawsuit Alleging Company Misled Stockholders

Y2kTheNewOldies

Y2kTheNewOldies

https://ktla.com/2019/07/31/netflix...misled-stockholders-about-subscriber-numbers/

This involves allegations that Netflix misled investors over subscriber numbers.


Netflix has been hit with a class action lawsuit alleging the company misled stockholders or failed to disclose bad news regarding subscriber numbers earlier this year, the Pomerantz Law Firm announced Wednesday.

The lawsuit, filed in the Northern District of California, says Netflix made “false and/or misleading statements and/or failed to disclose” that the company would miss an expected target number of new subscribers, and that they would also lose subscribers from the U.S. in the second quarter of 2019.
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