SAN DIEGO–(BUSINESS WIRE). Netflix operates an entertainment platform.

If you would like more information on our investigation into wrongdoing by Netflix, Inc., click here.

What is it about in this case: According to a complaint filed against Netflix on Jan. 20, 2022, Netflix reported that it “slightly overestimated paid net adds in Q4,” adding 8.3 million subscribers compared to the forecast 8.5 million. The company also stated that despite “healthy” retention and engagement, it only expects to add 2.5 million net subscribers in the first quarter of 2022, down from the 4.0 million net adds in the prior-year period. As a result of this news, the company’s share price fell $110.75, or 21.7%, to close at $397.50 per share on January 21, 2022.

Then, on April 19, 2022, Netflix reported that it lost 200,000 subscribers in the first quarter of 2022, compared to previous projections of the company adding 2.5 million net subscribers. The company attributed the slowing revenue growth to four factors, including sharing accounts with an estimated 100 million additional homes and competition from other streaming services. As a result of this news, the company’s share price fell by $122.42, or over 35%, to close at $226.19 per share on April 20, 2022.

Next Steps: If you purchased Netflix (NFLX) stock, made call options, or sold put options between October 19, 2021 and April 19, 2022, you have legal options. Contact Robbins LLP for more information.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

Contact us to find out more:

Aaron Dumas

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About Robbins LLP: The attorneys and associates of Robbins LLP, a recognized leader in shareholder rights litigation, have been dedicated since 2002 to helping shareholders recover losses, improving corporate governance and holding company executives accountable for wrongdoing. To be notified of a class action lawsuit against Netflix , Inc. settled or to receive free alerts when company executives commit wrongdoing, join Stock Watch today.

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