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posted by Fnord666 on Sunday July 21 2019, @12:37AM   Printer-friendly
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/


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  • (Score: 0) by Anonymous Coward on Sunday July 21 2019, @03:02AM (3 children)

    by Anonymous Coward on Sunday July 21 2019, @03:02AM (#869508)

    Their competition isn't Disney, it is torrents...

  • (Score: 2) by Runaway1956 on Sunday July 21 2019, @06:58AM

    by Runaway1956 (2926) Subscriber Badge on Sunday July 21 2019, @06:58AM (#869563) Journal

    Torrents don't create anything, they just move things around.

  • (Score: 2) by PartTimeZombie on Sunday July 21 2019, @09:27PM (1 child)

    by PartTimeZombie (4827) on Sunday July 21 2019, @09:27PM (#869726)

    Their competition isn't Disney, it is torrents...

    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

      by Anonymous Coward on Sunday July 21 2019, @09:32PM (#869727)

      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.