YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Netflix investors filed a class-action lawsuit against the company for allegedly making false or misleading statements leading up to a recent subscriber loss.
The complaint filed in the U.S. District Court for the Northern District of California alleges Netflix artificially inflated the price of its common stock and violated the Securities Exchange Act of 1934 and Rule 10b-5 by failing to disclose slowing subscriber numbers prior to its first-quarter earnings report.
A Netflix spokesperson declined to comment on the suit.
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