NEW YORK–(BUSINESS WIRE)–Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, announces that it is investigating Netflix Inc. (“Netflix” or the “Company”) (NASDAQ: NFLX) for potential violations of the federal securities laws.
In after-hours trading on Tuesday, April 19, 2022, Netflix shares fell more than 23% after the Company reported a loss of 200,000 subscribers during the first quarter.
Netflix previously told shareholders it expected to add 2.5 million net subscribers during the first quarter. Analysts had predicted that number would be closer to 2.7 million.
The Company also said that it expects to lose another 2 million subscribers in the second quarter of 2022.
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About the Firm
Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in securities, corporate governance and shareholder rights, consumer, and cybersecurity and data privacy litigation, as well as whistleblower representation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
David J. Schwartz