Netflix, Inc. (NasdaqGS: NFLX)
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Netflix, Inc. (NasdaqGS: NFLX).
On April 19, 2022, the Company disclosed the extent of subscriber account sharing and the growth implications resulting from it, stating “in addition to our 222m paying households, we estimate that Netflix is being shared with over 100m additional households…our relatively high household penetration – when including the large number of households sharing accounts – combined with competition, is creating revenue growth headwinds.”
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether Netflix’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Netflix shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.