LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC announces the filing of a class action lawsuit against Netflix, Inc. (“Netflix” or the “Company”) (Nasdaq: NFLX). Investors who purchased or otherwise acquired Netflix shares between July 22, 2014, and October 15, 2014, inclusive (the “Class Period”), are encouraged to contact the firm in advance of the May 1, 2017 lead plaintiff deadline.
If you purchased or otherwise acquired Netflix shares and would like more information regarding the class action lawsuit, we encourage you to click here, or contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at email@example.com.
According to the Complaint, Netflix did not inform investors that its May 2014 price increase for monthly streaming subscriptions would not have a substantial effect on subscriber growth.
Instead, on July 21, 2014, Netflix told investors that the price increase had a “minimal” and “nominal” impact on subscriber growth and that any negative effect on revenue was “background noise” with “no noticeable effect in the business.”
On October 15, 2014, Netflix announced to investors that “[Y]ear on year net additions in the US were down (1.3 million in Q3 2013 to 1 million in Q3 2014). As best we can tell, the primary cause is the slightly higher prices we now have compared to a year ago. Slightly higher prices result in slightly less growth, other things being equal, and this is manifested more clearly in higher adoption markets such as the US.”
When this information was revealed to the public, Netflix stock dropped, causing investors harm.
If you have any questions concerning your legal rights, please immediately contact Goldberg Law PC at 800-977-7401, or visit our website at http://www.Goldberglawpc.com, or email us at firstname.lastname@example.org.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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