NEW YORK, May 27, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Netflix, Inc. (NASDAQ: NFLX).
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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.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 5, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Netflix, Inc. issued materially false and/or misleading statements and/or failed to disclose 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law