The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Netflix, Inc. (NASDAQGS: NFLX) who purchased shares between April 17, 2019 and July 17, 2019. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Netflix lawsuit alleges that (1) Netflix would not be able to gain its expected target number of new subscribers in the second quarter of 2019; (2) Netflix would also lose subscribers from the United States in the second quarter of 2019; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
Shareholders have until September 20, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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