Class Action,
Technology
Jan. 5, 2023
Netflix stockholder suit delayed until similar class action is done
The stockholder derivative case was filed last July on behalf of a Netflix stockholder who claimed that the streaming company misled stockholders in 2021 about subscriber growth following the COVID-19 pandemic.
A shareholder derivative lawsuit against officers and directors of Netflix may be stayed until a securities class action stemming from the same allegations is completed, a federal judge in Oakland said on Tuesday.
The stockholder derivative case was filed last July on behalf of a Netflix stockholder who claimed that the streaming company misled stockholders in 2021 about subscriber growth following the COVID-19 pandemic.
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