Netflix Ducks Investor Suit Over Planned Streaming Switch

Law360, Los Angeles (August 20, 2013, 9:23 PM ET) -- A California federal judge on Tuesday dismissed a putative class action claiming Netflix Inc. misled investors about the financial viability of its streaming service, finding the investors didn't claim the company had made false statements.

U.S. District Judge Samuel Conti ruled Tuesday that the investors failed to prove Netflix had made false statements to them and to regulators. The judge sided with Netflix's argument that it hadn't made any assurances to investors about a decision to change its business model, but rather simply explained the concept....
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required