back to article Netflix investor sues vid giant for 'covering up' subscriber stats stumble

Netflix is facing a class-action lawsuit from one of its investors, who claims executives withheld bad news from shareholders – and cost them billions of dollars in losses. The video-streaming giant is accused of failing to promptly warn shareholders that raising the cost of its monthly subscriptions was putting off potential …

  1. Anonymous Coward
    Anonymous Coward

    Lowest forms of human existence...

    1,999,999,996: Radio DJ

    1,999,999,997: Circus Clown or Sideshow Geek

    1,999,999,998: Child Molester

    1,999,999,999: Cable TV Operator

    2,000,000,000: "Vocal" Netflix Shareholder

    I think that speaks for itself. Thank you.

  2. ecofeco Silver badge

    Giant corp covers up mistakes?

    I find this shard to believe!

    Anybody believe me? Yeah I can't say it with a straight face either.

  3. Steve B

    Amazing part of US business practice. Destroy the company you invest in at every op.

    Worked for a couple of US companies where the US shareholders destroyed the companies by suing for extra dividends rather than allowing the companies to invest in R & D. Net result: The now non competitive companies had to sell to get capital to survive. Which bits sell - yes, the profitable bits leaving the companies with the bits that no one wants or aren't profitable. Pretty soon nothing left of either company. But happy investors!

  4. Swarthy Silver badge
    WTF?

    It seems to me...

    That they are suing because they couldn't use privileged information to sell their stocks before the price dropped (AKA Insider Trading).

    Oooh! Can I sue my neighbor because they lock their doors, preventing me from robbing their house?

  5. Anonymous Coward
    Anonymous Coward

    Lying to regulators, consumers, even Nations OK, but just once.....

    So it's OK to lie to regulators, and consumers but not Shareholders? Modern capitalism at work, next they will be asking for a bail out or more QE to buy their stock.

  6. Anonymous Coward
    Anonymous Coward

    I dont think netflix lied

    I for one didn't really care about the price rise as a subscriber. I cared that Netflix blocked me access the Netflix content I wanted (US version) raised the prices, then when i asked them about why blocking they expressed that companies they pay for content were more important than their own customers. I took that to mean they cared more about obliging content providers and that my watching US content was me stealing so i figured rather than pay them for access to content they wont let me watch id just back to torrenting.

  7. Nezumi
    Facepalm

    I fail to see how a class action lawsuit will help protect the investor's Netflix investment...

    Perhaps I'm being daft, but I strongly suspect this will not be helpful to the stock price.

    The reason why the stock plummeted is because of this kind of mentality.

    The market created this and now twats playing with other peoples money aren't going to earn a truckload of cash for doing nothing. *tears*

    I'm going to be charitable and venture that Netflix didn't expect to be effed over to this extent by entities that had a vested interest in the company succeeding.

    Did I mention I was daft...

  8. William 3 Bronze badge

    It's my opinion that any investor who doesn't realize that price increases are going to effect the profits in some way without explicitly being told they are going to do so has absolutely no idea about businesses in general and shouldn't really be investing if they are that thick.

    All this lawsuit achieves is confirm how thick they are.

    it's like suing the moon because the Sun went down.

  9. John McCallum

    Share Prices

    Did no one tell these numpties that the value of shares go down as well as up? Strange concept I know.

  10. Anonymous Coward
    Anonymous Coward

    Investor

    Can we stop calling people who buy shares investors? Unless they buy directly from the company they haven't invested a single penny in it. They instead take money from the company via the part of the company they have bought. The complete opposite of investing.

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