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....
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Case Title

City of Royal Oak Retirement System v. Netflix, Inc. et al


Case Number

3:12-cv-00225

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Samuel Conti

Date Filed

January 13, 2012

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