(NFLX) DEADLINE: Have you suffered a substantial loss? Contact Johnson Fistel World renowned… | New
SAN DIEGO, June 04, 2022 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has been filed on behalf of everyone who purchased Netflix, Inc. (” Netflix” or the “Company”) (NASDAQ: NFLX) securities during the period between October 19, 2021 and April 19, 2022 inclusive (the “Class”). The action was filed in the Northern District of California in the United States.
HOW TO JOIN: The Private Securities Litigation Reform Act permits any investor who is a member of the group described above to seek appointment as a lead plaintiff. A lead plaintiff acts on behalf of all other class members to direct the litigation. The lead applicant can select a law firm of their choice. An investor’s ability to participate in any potential future upturn does not depend on their status as lead plaintiff.
If you wish to seek appointment as lead plaintiff, please contact Johnson Fistel, LLP to submit your losses:
Lead plaintiff’s motions for the Netflix class action must be filed with the court no later than July 5, 2022.
CASE ALLEGATIONS: On April 19, 2022, after the market closed, Netflix announced that it had lost 200,000 subscribers in the first quarter of 2022, against previous forecasts expecting the company to add 2.5 million subscribers. net subscribers. The company cited slowing revenue growth as four factors, including account sharing with around 100 million additional households and competition with other streaming services.
The Complaint filed in this Class Action alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts regarding the business, operations and societal prospects. Specifically, the defendants failed to disclose to investors: (1) that Netflix was exhibiting slower acquisition growth due to, among other things, customer account sharing and increased competition from other streaming services; (2) the Company was having difficulty retaining customers; (3) that as a result of the foregoing, the Company was losing subscribers on a net basis; (4) that, as a result, the Company’s financial results were adversely affected; and (5) that as a result of the foregoing, defendants’ positive statements about the company’s business, operations and prospects were materially false and/or misleading and/or lacked reasonable basis.
ABOUT JOHNSON FISTEL: Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivatives and securities class actions. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Lawyer advertisement. Past results do not guarantee future results.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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