The suit was filed in federal court in San Francisco and is seeking damages for those who lost money after it missed on growth estimates. Netflix shares fell almost 35% in the wake of the company’s announcement it lost 200,000 subscribers rather than adding 2.5 million customers as anticipated in Q1.
Estimated reading time: 0 minutes, 23 seconds
Netflix Facing Investor Federal Lawsuit After Losing 200K Subscribers
Netflix shareholders are suing the steaming platform for allegedly misleading the market regarding its ability to continue adding subscribers. So reports Reuters.
Latest from Progressive Law Practice
- Texas AG Sues Google Over Private Browsing Practices
- NY Man Calls Foul on McDonald’s, Wendy’s Over Burger Ads
- Internet Speculation Rampant with Rumors of Depp-attorney Relationship
- Berkeley Law to Allow Native American Students to Attend Cost-free
- Mother Suing TikTok After Child Dies Doing 'Blackout Challenge'
Most Read
-
-
Apr 07 2013
-
Written by PLP News
-
-
-
Jan 26 2014
-
Written by PLP News
-
-
-
Mar 31 2013
-
Written by PLP News
-
-
-
Mar 31 2013
-
Written by PLP News
-