Cases
Netflix, Inc. (NASDAQ: NFLX)
Securities Class Action
Overview
Overview
- Date:
- 5/7/2017
- Company Name:
- Netflix, Inc.
- Stock Symbol:
- NFLX
- Class Period:
- FROM 7/22/2014 TO 10/15/2014
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Northern California
NEW YORK, March 7, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who acquired Netflix, Inc. (NASDAQ: NFLX) securities between July 22, 2014 and October 15, 2014 (the “Class Period”).
Netflix and certain of its officers and directors are charged with making materially false and misleading statements and omissions related to the Company's business and operations in violation of the Securities Exchange Act of 1934. The allegations surround Netflix's 2014 price increase for monthly streaming subscriptions and the Company's failure to inform investors that its price increases would materially impede subscriber growth.
On October 15, 2014, and contrary to its earlier statements, Netflix revealed that its price increase had substantially slowed subscriber growth and sharply reduced the Company's near-term earnings outlook. As a result of these disclosures, Netflix stock plummeted by more than 19%, falling from a closing price of $448.59 per share on October 15, 2014 to a close of $361.70 per share on October 16, 2014.
If you purchased or otherwise acquired Netflix securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
Netflix and certain of its officers and directors are charged with making materially false and misleading statements and omissions related to the Company's business and operations in violation of the Securities Exchange Act of 1934. The allegations surround Netflix's 2014 price increase for monthly streaming subscriptions and the Company's failure to inform investors that its price increases would materially impede subscriber growth.
On October 15, 2014, and contrary to its earlier statements, Netflix revealed that its price increase had substantially slowed subscriber growth and sharply reduced the Company's near-term earnings outlook. As a result of these disclosures, Netflix stock plummeted by more than 19%, falling from a closing price of $448.59 per share on October 15, 2014 to a close of $361.70 per share on October 16, 2014.
If you purchased or otherwise acquired Netflix securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.