According to the Complaint, Netflix, Inc. provides Internet entertainment services, primarily streaming services.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Netflix would not be able to gain its expected target number of new subscribers in the second quarter of 2019; (2) Netflix would also lose subscribers from the United States in the second quarter of 2019; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

On January 31, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. Lead Plaintiffs voluntarily dismissed this case on March 17.