NETFLIX, Inc. FACES SECURITIES FRAUD LAWSUIT (NASDAQ: NFLX): STOCK DROPS 19% AFTER MAJOR SLASH IN HUGE PROJECTED EARNINGS
April 11, 2017
WELLINGTON, FLORIDA — Barbuto & Johansson, PA (“ACLAW”) (www.injurylawfirm4all.com) and ACLAW partner, Anthony M. Barbuto, Esq., announces that a securities class action lawsuit has been filed against Netflix, Inc. (“Netflix” or the “Company”). To learn more about this case, investors should contact the firm before May 1, 2017. ACLAW provides quality legal services to clients predominately throughout Southern Florida and United States. Partner Anthony M. Barbuto, Esq. (firstname.lastname@example.org), who has trained in class action representation and is also a national leader in equestrian law, represents those who have been harmed by securities fraud, antitrust and other class action areas. The firm announces that a securities class action lawsuit against Netflix, Inc. in the United States District Court for the Northern District of California on behalf of purchasers of Netflix common stock between July 22, 2014 and October 15, 2014 (inclusive; referred to as the “Class Period”), where Mr. Barbuto is a member of the California Bar.
Netflix Shareholder Class Rights
If you are a Netflix shareholder during the class period and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call Attorney Anthony M. Barbuto (email: email@example.com; office: (561) 444-7980; cellular: (561) 531-8221). If you are interested in learning more about this case and the litigation process, contact ACLAW by May 1, 2017, the date upon which the Lead Plaintiff/s Motion must be filed by application with the Court. Any investor who is part of the putative class may request from the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. ACLAW encourages purchasers of Netflix during the class period to contact Mr. Barbuto to learn more about your rights and help in recovering your losses. Shareholder involvement can enhance the outcome of the recovery as it is a loss to those in the class.
The Lawsuit Against Netflix
Netflix and certain of its officers and directors are charged with making a series of materially false and misleading statements and omissions related to the Company’s business and operations in violation of the Securities Exchange Act of 1934. The allegations surround Netflix’s May 2014 price increase for monthly streaming subscriptions. On July 21, 2014, the Company publicly represented that the price increase had a “nominal” impact on subscriber growth. Less than three months later, however, on October 15, 2014, the Company revealed that the impact on earnings were hugely negative whereby the Company slashed its projected earnings by almost fifty percent. As a result of this disclosure, Netflix stock plummeted by more than 19%.
Barbuto & Johansson, P.A.
ACLAW, whose partners include attorney Anthony M. Barbuto, who has a background in representing equestrians from all over the world, and who has trained in class action representation, focuses on injury law, which includes class actions. The firm is based in Wellington, Florida.
To learn more about ACLAW, you may visit www.injurylawfirm4all.com.
Barbuto & Johansson, P.A.
Anthony M. Barbuto, 561-444-7980 (Cell: 561-531-8221)
Carly A. Johansson, 561-444-7980 (Cell: 954-401-0435)