IRVINE, Calif.--(BUSINESS WIRE)--Khang & Khang LLP (the “Firm”) 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 shares of Netflix during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at email@example.com.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The Complaint alleges Netflix told investors that the price increase for its monthly subscription service 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 revealed 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 disclosed to the investing public, the value of Netflix fell, causing investors harm.
If you wish to learn more about this lawsuit at no charge, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at firstname.lastname@example.org.
This press release may constitute Attorney Advertising in some jurisdictions.