Current Events > Netflix Is Being Sued By Its Own Shareholders Over Subscriber Slump

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solosnake
05/05/22 7:31:55 PM
#1:


https://www.ign.com/articles/netflix-is-being-sued-by-its-own-shareholders-over-subscriber-slump

According to Variety, the online streaming giant has been hit with a lawsuit by its shareholders who claim that Netflix misled them about the extent of its recent subscriber losses.

Netflix shares plummeted 35.1 percent overnight after reports of subscriber losses, losing $54.3 billion overnight. Thats the single biggest one-day drop in Netflix history.
Meanwhile, the lawsuit alleges that Netflix and its top executives employed devices, schemes and artifices to defraud [investors], while in possession of material adverse non-public information.

Netflixs stock price dropped a staggering 67% during the period covered in the lawsuit from $691.69/share on November 17, 2021, to just $226.19/share on April 20, 2022.

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DrizztLink
05/05/22 7:32:43 PM
#2:


https://gamefaqs.gamespot.com/a/user_image/3/9/5/AABUaRAADM7j.jpg

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IShall_Run_Amok
05/05/22 7:37:30 PM
#3:


https://gamefaqs.gamespot.com/a/user_image/3/9/8/AAJBROAADM7m.jpg

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Back_Stabbath
05/05/22 7:38:59 PM
#4:


https://gamefaqs.gamespot.com/a/user_image/4/0/0/AAVhf4AADM7o.jpg

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LeoRavus
05/05/22 7:40:29 PM
#5:


Fuck 'em. They're twice as expensive or more than most streaming services and their originals mostly suck. I may rejoin if they come down $5.

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Pitlord_Special
05/05/22 7:40:39 PM
#6:


Pretty much par for the course for any company whose stock tanks hard

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Turtlebread
05/05/22 7:41:16 PM
#7:


why isnt my investment zero risk wahhhhhh


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Strider102
05/05/22 7:42:16 PM
#8:


Time for Elon to buy Netflix.

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RchHomieQuanChi
05/05/22 7:42:16 PM
#9:


Lmao Netflix getting fucked

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Rharyx211
05/05/22 7:42:46 PM
#10:


Good. Fuck em.

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Solar_Crimson
05/05/22 7:44:35 PM
#11:


Turtlebread posted...
why isnt my investment zero risk wahhhhhh


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Delta_Force
05/05/22 7:45:33 PM
#12:


LeoRavus posted...
Fuck 'em. They're twice as expensive or more than most streaming services and their originals mostly suck. I may rejoin if they come down to $5.

FTFY.
I know it ain't happening...

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Prestoff
05/05/22 7:47:06 PM
#13:


Dude, this happens a lot to any company that gets hit hard in the stock market. The lawsuit never go anywhere. The shareholders are just pissed they lost a lot of money.

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Kim_Seong-a
05/05/22 7:48:26 PM
#14:


https://gamefaqs.gamespot.com/a/user_image/4/0/7/AAe6eNAADM7v.png

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Tropicalwood
05/05/22 7:49:12 PM
#15:


Turtlebread posted...
why isnt my investment zero risk wahhhhhh
Netflix has a duty to avoid crashing their stock prices. Clearly, they failed after ruining Cowboy Bebop with decisions that had a history of falling flat on their ass.

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Shotgunnova
05/05/22 7:51:25 PM
#16:


https://gamefaqs.gamespot.com/a/user_image/4/1/2/AABhrNAADM70.jpg

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Questionmarktarius
05/05/22 7:53:37 PM
#17:


https://gamefaqs.gamespot.com/a/user_image/4/1/5/AAEhCpAADM73.jpg
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CRON
05/05/22 7:54:36 PM
#18:


I just cancelled my subscription a few minutes ago, lol

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1NfamousACE_2
05/05/22 7:59:14 PM
#19:


Youll get 7.99 with ads and like it

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30RegularUser
05/05/22 8:03:14 PM
#20:


This is some heavy meme action. Didn't realize people hated Netflix this much now. What gives?

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CelestialVoices
05/05/22 8:04:10 PM
#21:


xd

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Eclixor
05/05/22 8:04:37 PM
#22:


I don't see how Netflix recovers from this, win or lose.
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Punished_Blinx
05/05/22 8:05:19 PM
#23:


solosnake posted...
According to Variety, the online streaming giant has been hit with a lawsuit by its shareholders who claim that Netflix misled them about the extent of its recent subscriber losses.

But...didn't the shares drop because they reported they had subscriber losses?

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Smashingpmkns
05/05/22 8:09:01 PM
#24:


I doubt Netflix misled them tbh. Will probably lead nowhere. Suck it up mfers sink with the fucking ship.

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mustachedmystic
05/05/22 8:21:36 PM
#25:


30RegularUser posted...
This is some heavy meme action. Didn't realize people hated Netflix this much now. What gives?
Not paying attention,eh? Too damn expensive, constantly cancelling shows, cracking down on password sharing. It's almost like the company is committing suicide.

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MabusIncarnate
05/05/22 8:26:40 PM
#26:


Prestoff posted...
Dude, this happens a lot to any company that gets hit hard in the stock market. The lawsuit never go anywhere. The shareholders are just pissed they lost a lot of money.
Yeah investing is a risk, you make or lose money, you don't get your investment back if you aren't profitable, like a casino. This is just shareholders crying and nothing will happen.

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--Zero-
05/05/22 8:27:52 PM
#27:


Lol the new fad is hating on Netflix I guess when theyve got more content than any steaming service out right now. Their shareholders sound like pieces of shit too.

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1NfamousACE_2
05/05/22 8:29:55 PM
#28:


--Zero- posted...
Lol the new fad is hating on Netflix I guess when theyve got more content than any steaming service out right now. Their shareholders sound like pieces of shit too.

well I hate Netflix because I had them back when it was 8.99 and prices kept rising

i canceled last year but got it back a few months ago to watch the Witcher and then canceled

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FLAMING EVIL HOMER
05/05/22 8:32:42 PM
#29:


--Zero- posted...
Lol the new fad is hating on Netflix I guess when theyve got more content than any steaming service out right now. Their shareholders sound like pieces of shit too.


More content doesn't mean quality

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What_
05/05/22 8:46:54 PM
#30:


Turtlebread posted...
why isnt my investment zero risk wahhhhhh
Thats literally not what theyre claiming and your post proves you know absolutely fuck all about business economics or the stock market
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MegaManXYZ123
05/05/22 8:47:39 PM
#31:


Nice

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Turtlebread
05/05/22 8:53:46 PM
#32:


What_ posted...
Thats literally not what theyre claiming and your post proves you know absolutely fuck all about business economics or the stock market

ok bagholder


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EyeWontBeFooled
05/05/22 8:55:09 PM
#33:


Rharyx211 posted...
Good. Fuck em.


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#34
Post #34 was unavailable or deleted.
lilORANG
05/05/22 8:57:01 PM
#35:


It's very hard to sue based on poor stock performance. You basically have to prove actual malfeasance.

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YookaLaylee
05/05/22 8:59:15 PM
#36:


FLAMING EVIL HOMER posted...


More content doesn't mean quality

They have more content than all the other streaming services and they have the highest overall quality. That being said I cancelled my subscription last week lol

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xGhostchantx
05/05/22 8:59:44 PM
#37:


lol i cancelled like last week, it's just not worth it
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ChocoboMogALT
05/05/22 8:59:57 PM
#38:


MabusIncarnate posted...
Yeah investing is a risk, you make or lose money, you don't get your investment back if you aren't profitable, like a casino. This is just shareholders crying and nothing will happen.
They're saying Netflix lied or misled in their earnings report, which is illegal. Most companies use lawyer speak to hide bad news, but you can usually extrapolate what they're leaving out. But if you lie to your shareholders you're breaking your obligation to them and, presumably, liable for damages.

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thronedfire2
05/05/22 9:03:05 PM
#39:


Yeah, a businesss job is to make money for its investors and lying to them is illegal

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kingdrake2
05/05/22 9:03:28 PM
#40:


YookaLaylee posted...
they have the highest overall quality.


uhhh. no :(.

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tripleh213
05/05/22 9:07:52 PM
#41:


I hope they fall

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xGhostchantx
05/05/22 9:25:21 PM
#42:


If they did genuinely mislead, then throw them to the wolves, but also...

Turtlebread posted...
why isnt my investment zero risk wahhhhhh

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Wetterdew
05/05/22 10:02:49 PM
#43:


mustachedmystic posted...
Not paying attention,eh? Too damn expensive, constantly cancelling shows, cracking down on password sharing. It's almost like the company is committing suicide.
don't forget they just announced they're going to put ads onto it
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Axiom
05/05/22 10:12:34 PM
#44:


Get fucked netflix
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Mearcstapa
05/05/22 10:14:38 PM
#45:


god how I love seeing them suffer.

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Irony
05/05/22 10:27:13 PM
#46:


https://gamefaqs.gamespot.com/a/user_image/5/2/8/AAJHVqAADM9o.jpg

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MICHALECOLE
05/05/22 10:28:40 PM
#47:


I think I have like 11$ worth of Netflix stock
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Irony
05/05/22 10:29:31 PM
#48:


MICHALECOLE posted...
I think I have like 11$ worth of Netflix stock
You should sue

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MICHALECOLE
05/05/22 10:39:44 PM
#49:


Irony posted...
You should sue
I actually turned quite a profit on Netflix buying a couple years ago at 350$ and selling at 580$

the 11$ is just what was left over and its just been sitting there
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Irony
05/05/22 10:41:10 PM
#50:


That $11 should be like $14. You should sue

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