as the investor lawsuit against Netflix comes together the law firm behind it has sent out communications to possible aggrieved shareholders in an invitation to be part of the lawsuit. As a class action lawsuit it doesn’t require each shareholder to sign on and pay for a lawyer. Whether this actually goes forward is anybody’s guess but the mechanisms are being put into place either way.
See the document below.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Netflix, Inc. investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Netflix common stock or call options, or sold put options, between October 19, 2021 and April 19, 2022, inclusive. Follow the link below to get more information and be contacted by a member of our team:
https://www.zlk.com/pslra-1/netflix-inc-loss-submission-form?prid=27697&wire=4
NFLX investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Netflix was exhibiting slower acquisition growth due to, among other things, account sharing by customers and increased competition from other streaming services; (2) the Company was experiencing difficulties retaining customers; (3) as a result of the foregoing, the Company was losing subscribers on a net basis (4) as a result, the Company’s financial results were being adversely affected; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
WHAT’S NEXT? If you suffered a loss in Netflix, Inc. during the relevant time frame, you have until July 5, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
