Netflix Hit With Stock- Drop Suit Over Missed New Membership Forecast

(July 23, 2019, 1:34 PM EDT) -- SAN FRANCISCO — Internet entertainment services provider Netflix Inc. and two of its senior executives were hit with a shareholder class action lawsuit on July 22 in California federal court alleging that the defendants provided investors with subscriber forecasts for the second quarter of 2019 that the company knew it wouldn’t be able to reach in violation of federal securities laws (Johan Wallerstein v. Netflix Inc., et al., No. 19-4195, N.D. Calif.)....

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