https://wccftech.com/netflix-facing-class-action-suit-for-misleading-investors/

Netflix (NASDAQ:NFLX), the largest SVOD provider in the world with more than 150 million global subscribers has run into legal trouble with a host of its disaffected investors. The fallout has occurred over the dismal results in the second quarter which deviated significantly from the company’s guidance in its April 17 note to investors – which forecast roughly 5 million more subscriber additions in the second quarter but only managed 2.7 million and lost 126,000 in the US as revealed in the second-quarter earnings call.

Some investors have lawyered up and are calling this an act of misrepresentation and fraud. A class-action lawsuit has been filed and Rosen Law Firm among others has notified investors to apply as a class member before the 20th of September. Shares of Netflix were down 1.02% on the 30th of August since the announcement of the suit. We bring you the full picture as well as a prognosis of the case as it develops and the likely outcome.