Entertainment & Sports,
Civil Litigation
Aug. 18, 2022
Netflix shareholder lawsuits over rosy prospects continues
The company’s alleged attempts to quell the fears of its investors and downplay the true magnitude of its losses in the beginning of 2022 led to securities class actions and another shareholder lawsuit being filed in the Bay Area, wrote Lauren A. Dean of Magnanimo & Dean LLP in the latest lawsuit.
A new lawsuit complaining that Netflix Inc. harmed shareholders by falsely describing its business as healthy is the latest in the wave of litigation in California’s Northern District federal court stemming from the company’s recent downturn.
The complaint filed Tuesday by Lauren A. Dean, founding partner of Magnanimo & Dean LLP, says the company’s claims that, “overall, the business was healthy,” and its subscribership would continue ...
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