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from the drawbacks-of-being-a-public-company dept.
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Netflix, Inc. ("Netflix" or "the Company") (NASDAQ: NFLX) for violations of ยงยง10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Netflix announced its second quarter 2019 earnings on July 17, 2019. During the Company's earnings call, as well as in its shareholder letter, it was revealed that Netflix gained only 2.7 million new subscribers against a forecast of 5 million new subscribers. Based on this startling news, shares of Netflix dropped by more than 13% over the next two days.
https://www.businesswire.com/news/home/20190719005440/en/
(Score: 1, Interesting) by Anonymous Coward on Sunday July 21 2019, @02:39AM (6 children)
Netflix is no longer the good guy underdog: https://www.latimes.com/business/hollywood/la-fi-ct-netflix-mpaa-20190122-story.html [latimes.com]
(Score: 2) by Runaway1956 on Sunday July 21 2019, @02:54AM (5 children)
Oh-kay, I agree with you - Netflix is less innocent that I have presumed. Still, aren't they less evil than most all of the competition? Isn't it likely that it will take a couple decades for them to learn the pure evil of the most mature corporations, like Disney?
(Score: 0) by Anonymous Coward on Sunday July 21 2019, @03:02AM (3 children)
Their competition isn't Disney, it is torrents...
(Score: 2) by Runaway1956 on Sunday July 21 2019, @06:58AM
Torrents don't create anything, they just move things around.
(Score: 2) by PartTimeZombie on Sunday July 21 2019, @09:27PM (1 child)
While that is true, Netflix provides a good service at a good price making torrents less attractive.
If the movie and music businesses learned that lesson 20 years ago I would never have needed torrents at all.
(Score: 0) by Anonymous Coward on Sunday July 21 2019, @09:32PM
Netflix used to provide that, not anymore for me. Both selection and quality of what is left are going down while prices are going up.
(Score: 2) by toddestan on Monday July 22 2019, @02:34AM
How soon people forget. Way back in the day, Netflix was on the forefront of pop-up ads on the web, and they were very aggressive about getting around various pop-up blockers. Netflix has never been the good guys - they have always been evil right from the start.