Netflix Targeted with Shareholder Lawsuit

Netflix, the world’s largest subscription video-on-demand (SVOD) service provider, is facing a shareholder lawsuit filed by one of its investors. The class action complaint alleges that Netflix violated federal securities laws and failed to disclose material information about their business in violation of SEC rules during an earnings call on November 9th 2018.

The “whats on netflix right now” is a question that many people ask. Netflix has been targeted with a shareholder lawsuit and it will be interesting to see what happens next.

Netflix Targeted with Shareholder Lawsuit

Netflix image

Netflix’s situation is deteriorating rapidly. Following a drop in stock prices, it is now being sued by shareholders. On January 21, the streaming giant’s shares dropped $110.75 to $397.50 per share, then dropped another $122.42 to $226.19 per share on April 20.

Netflix is accused of making false claims to shareholders and failing to disclose information about its business and operations, according to the complaint. Netflix acknowledged to over-forecasting paid net additions for Q4, causing the first decline in stock prices, according to the report. The second decrease came when Netflix announced that it had lost over 200,00 members. The complaint is available here.

Defendants made materially false and/or misleading statements and failed to disclose substantial unfavorable facts regarding the Company’s business, operations, and prospects throughout the Class Period. Specifically, defendants failed to disclose to investors: (1) that Netflix’s acquisition growth was slowing due to, among other things, customer account sharing and increased competition from other streaming services; (2) that the Company was having trouble retaining customers; (3) that, as a result of the foregoing, the Company was losing subscribers on a net basis; and (4) that, as a result, the Company’s financial results were being harmed.

Sources: Deadline, Variety

Return to the thread

Recent Developments


Pricing and Release Dates for Intel Arc Alchemist Desktop GPUs Have Been Leaked

5 May 2022 5 May 2022


Seagate Introduces New Star Wars-Inspired Collectible External Drives

4 May 2022 4 May 2022


Activision believes Call of Duty: Vanguard was a failure because of the World War II setting.

4 May 2022 4 May 2022


The NFT market seems to be collapsing, with sales down 92 percent from their peak.

4 May 2022 4 May 2022


Amazon will use computer-generated imagery (CGI) for product placement in Prime Video and Freevee programming.

4 May 2022 4 May 2022


The Star Wars Hero Series Boba Fett Edition Gaming Chair is now available at Noblechairs.

4 May 2022 4 May 2022

I was one of many children in the 1970s who were intrigued by the 1980s video arcade invasion. I bought my first computer from a buddy after saving money from several odd jobs… Peter Brosdahl’s other works



Related articles

SUNOVO Wireless Controller for PS3 Review

SUNOVO Wireless Controller for PS3 ReviewOverview Recommended for...

MEGACOM FlashFire Controller Charger Review

MEGACOM FlashFire Controller Charger ReviewOverview Recommended for these...

CHENGDAO Wireless Controller Review

The CHENGDAO Wireless Controller is a great controller for...

Nintendo 2DS XL Carry Case Review

If you're looking for a Nintendo DS case that...