An investigation on behalf of current long term investors in Netflix, Inc. (NASDAQ:NFLX) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 09/12/2022 -- Certain directors of Netflix, Inc. are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in Netflix, Inc. (NASDAQ: NFLX) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: NFLX stocks follows a lawsuit filed against Netflix, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: NFLX stocks, concerns whether certain Netflix directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants failed to disclose to investors that Netflix was exhibiting slower acquisition growth due to, among other things, account sharing by customers and increased competition from other streaming services, that the Company was experiencing difficulties retaining customers, that, as a result of the foregoing, the Company was losing subscribers on a net basis, that, as a result, the Company's financial results were being adversely affected, and that, 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.
Those who purchased shares of Netflix, Inc. (NASDAQ: NFLX) have certain options and should contact the Shareholders Foundation.
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