Netflix, Inc.

Ticker: NFLX

Class Period Start: 10/19/2021

Class Period End: 04/19/2022

Registration Deadline: 07/05/2022

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A securities class action has been filed in the USDC – N.D.CA. against Netflix, Inc. (NFLX) 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 through April 19, 2022.According to the Complaint, Netflix primarily operates an entertainment platform that offers TV series, documentaries, feature films, and mobile games across a variety of genres and languages. It also offers a DVD-by-mail service in the U.S.

On January 20, 2022, after the market closed, Netflix reported that it “slightly over-forecasted paid net adds in Q4,” adding 8.3 million subscribers compared to the 8.5 million forecast. The Company also stated that, despite “healthy” retention and engagement, it only expected to add 2.5 million net subscribers during first quarter 2022, below the 4.0 million net adds in the prior year period.

On this news, the Company’s stock price fell $110.75, or 21.7%, to close at $397.50 per share on January 21, 2022, on unusually heavy trading volume.

The Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that:

  • Netflix was exhibiting slower acquisition growth due to, among other things, account sharing by customers and increased competition from other streaming services;
  • the Company was experiencing difficulties retaining customers;
  • as a result of the foregoing, the Company was losing subscribers on a net basis;
  • as a result, the Company’s financial results were being adversely affected; and
  • 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.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

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