Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of Netflix, Inc. (“Netflix” or the “Company”) (NASDAQ: NFLX) between April 17, 2019, and July 17, 2019, both dates inclusive.
If you purchased Netflix, Inc., securities, and/or would like to discuss your legal rights and options, please click “Join Class Action” above.
New York, New York — Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of Netflix, Inc. (“Netflix” or the “Company”) (NASDAQ: NFLX) between April 17, 2019, and July 17, 2019, both dates inclusive. The lawsuit seeks to recover Netflix Shareholders’ investment losses.
According to the lawsuit, throughout the Class Period, the Defendants failed to disclose 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.
On July 17, 2019, after the market closed, Netflix released a letter to shareholders which revealed that Netflix had missed its expected target number of new subscribers. On this news, shares of Netflix plummeted $47.34 per share, or approximately 13% over the next two trading days.
If you wish to serve as lead plaintiff, you must move the court no later than September 20, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Matthew E. Guarnero
Bernstein Liebhard LLP