Netflix, Inc. (NASDAQ: NFLX) Investor Securities Class Action Lawsuit 07/22/2019

If you purchased a significant amount of shares of Netflix, Inc. (NASDAQ: NFLX) between April 17, 2019 through July 17, 2019, and / or if you purchased any NASDAQ: NFLX shares prior to April 2019 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: September 20, 2019. NASDAQ: NFLX investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Netflix
Case Name: 
Netflix Shareholder Class Action Lawsuit 07/22/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: NFLX
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
07/22/2019
Class Period Begin: 
04/17/2019
Class Period End: 
07/17/2019
Court of Filing: 
U.S. District Court for the Northern District of California
Deadline To File for Lead: 
09/20/2019
Summary: 

An investor in shares of Netflix, Inc. (NASDAQ: NFLX) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Netflix, Inc. in connection with certain allegedly false and misleading statements made between April 17, 2019 through July 17, 2019.

On July 17, 2019, Los Gatos, CA based Netflix released a letter to shareholders which revealed that Netflix missed its expected target for number of new subscribers and lost 126,000 subscribers in the United States during the second quarter of 2019. Also on July 17, 2019, Netflix held an earnings call to discuss its financial and operating results for the quarter. During the earnings call, the Company’s Chief Financial Officer attributed the missed subscription target to the “timing of [Netflix’s] content slate” and price increases.

Shares of Netflix, Inc. (NASDAQ: NFLX) declined from $384.76 per share on July 9, 2019 to as low as $306 per share on July 23, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Netflix, Inc. (NASDAQ: NFLX) common shares between April 17, 2019 through July 17, 2019

, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between April 17, 2019 through July 17, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Netflix would not be able to gain its expected target number of new subscribers in the second quarter of 2019, that Netflix would also lose subscribers from the United States in the second quarter of 2019, and that as a result, defendants’ public statements were materially false and misleading at all relevant times.