LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Netflix, Inc. (“Netflix” or the “Company”) (NASDAQ: NFLX) investors concerning the Company and its officers’ potential violation of federal securities laws.
In May 2014, Netflix raised the rate of its monthly streaming subscription in order to finance its content obligations. Then on July 21, 2014, CEO Reed Hastings and CFO David Wells informed the market that the impact of the price increase had been “minimal” and “nominal.” However, on October 15, 2014, Netflix disclosed that subscriber growth numbers were so low that the Company was forced to slash its projected earnings by nearly half. According to the Company, the “primary cause” for the disappointing earnings projection was the “slightly higher price” of its monthly streaming subscription.
If you purchased Netflix securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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