Shareholders sue Netflix ...News

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Shareholders sue Netflix
Streaming service executives are accused of lying about the company’s growth Netflix shareholders filed a lawsuit against the streaming service on Wednesday, accusing the company’s management of fraud by issuing misleading guidance about subscriber growth, leading to a plunge in its stock price. Filed in San Francisco, the lawsuit argues that the streaming service has failed to disclose that it is “losing subscribers on a net basis.” Unaware of Netflix’s inability to retain customers, the plaintiffs claim to “have suffered significant losses and damages.” The allegedly defrauded investors believe that the largest

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