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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: 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.