Netflix Urges End To Securities Suit Over Streaming Switch

Law360, Los Angeles (June 10, 2013, 10:03 PM EDT) -- Netflix Inc. on Monday urged a California federal judge to dismiss for the second time a putative class action alleging the company misled shareholders about the financial viability of its streaming service, saying the plaintiffs’ amended complaint still fails to prove federal securities law violations.

Los Gatos, Calif.-based Netflix filed a motion to dismiss the shareholders’ amended complaint Monday, saying the plaintiffs presented no evidence to suggest the company deliberately presented the false impression that its streaming service was driving revenue.

“There is not a single...
To view the full article, register now.