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NEW YORK, March 22, 2017 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Netflix, Inc. ("Netflix") (NASDAQ:NFLX) between July 22, 2014 and October 15, 2014. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information go to:
http://www.zlk.com/pslra/netflix-inc
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
In May 2014, Netflix raised the price of its monthly streaming subscription to fund its content obligations. The complaint alleges that Company insiders knew from prior experience and analyses that price increases could have a substantial negative impact on subscriber growth; yet on July 21, 2014, CEO Reed Hastings and CFO David Wells told the market that the impact of the price increase had been “minimal” and “nominal.” The complaint alleges, however, that just three months later, on October 15, 2014, Defendants revealed that subscriber growth numbers were so low that the Company was forced to slash its projected earnings by nearly half, suggesting that “[as] best we can tell, the primary cause is the slightly higher price we now have compared to a year ago.”
If you suffered a loss in Netflix you have until May 1, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
