is being sued by investors who claim the streaming giant misled them about subscriber growth in the six months before it reported a loss of 200,000 subscribers, leading to a plunge in stock price. The filed in San Francisco federal court on Tuesday alleges Netflix violated U.S. securities laws by making 'materially false and/or misleading statements' and because it 'failed to disclose material adverse facts about the company's business, operations and prospects.'It seeks damages for declines in Netflix's share price this year after the company missed its subscriber growth estimates.
Load More
Load More