Netflix is sued by investors who claim the streaming giant misled them about subscriber growth
Investors claim Netflix misled them about subscriber growth in the six months. Netflix shares dropped 20% in January after disclosing weak subscriber growth. The lawsuit filed in San Francisco federal court on Tuesday seeks damages for investors who traded Netflix shares between Oct. 19, 2021 and April 19, 2022. Lead plaintiff named on the lawsuit is Fiyyaz Pirani, a trustee of Imperium Irrevocable Trust, which is a Netflix shareholder.
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