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Netflix Heads to Court

Stockhouse Editorial
2 Comments| May 11, 2022

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Some shareholders of Netflix Inc. (NASDAQ: NFLX, Forum) allege that the major streaming service has made materially false and / or misleading statements and / or failed to disclose numerous significant cruxes related to how its business has been progressing as of late.

The Klein Law Firm has stepped in on this class action lawsuit, which accuses Netflix of exhibiting slower acquisition growth due to, among other things, account sharing by customers and increased competition from other streaming services. This suit also says that the company was experiencing difficulties retaining customers and as result of the foregoing, it was losing subscribers on a net basis and due to this its financial results were being adversely affected. This means that the company’s positive statements about its business, operations, and prospects were materially false and / or misleading and/or lacked a reasonable basis.

For more on this news story, click here.

Could this represent a violation of federal securities laws? Will this have any effect on your shares, if you have any? Let us know your thoughts in the comments below.


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