The suit was filed in federal court in San Francisco and is seeking damages for those who lost money after it missed on growth estimates. Netflix shares fell almost 35% in the wake of the company’s announcement it lost 200,000 subscribers rather than adding 2.5 million customers as anticipated in Q1.
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Netflix Facing Investor Federal Lawsuit After Losing 200K Subscribers
Netflix shareholders are suing the steaming platform for allegedly misleading the market regarding its ability to continue adding subscribers. So reports Reuters.
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