Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From
Investment in Netflix, Inc. to Inquire About the Lead Plaintiff Position in
Securities Fraud Class Action Lawsuit Before the April 22, 2013 Deadline --
STEVENSON, Md., Feb. 26, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional
Corporation announces that a class action lawsuit has been commenced in the
United States District Court for the Northern District of California on behalf
of purchasers of Netflix, Inc. ("Netflix" or the "Company") (Nasdaq:NFLX)
common stock during the period between July 3, 2012 and July 24, 2012,
inclusive (the "Class Period").
If you have suffered a net loss from investment in Netflix, Inc. common stock
purchased on or after July 3, 2012, and held through July 24, 2012, you may
obtain additional information about this lawsuit and your ability to become a
lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at
email@example.com, by calling 410/415-6616, or at Brower Piven, A
Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
class action cases of over 60 years.
No class has yet been certified in the above action.Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead
plaintiff.If you wish to choose counsel to represent you and the Class, you
must apply to be appointed lead plaintiff by an April 22, 2013 deadline and be
selected by the Court.The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a settlement
and how much of a settlement to accept for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the largest loss
from investment in the Company during the Class Period.You are not required
to have sold your shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of the defendants' failure to disclose during the Class
Period the significant risk, based on available data, that the Company might
not achieve the projected 7 million net domestic streaming subscription
additions.According to the Complaint, following Netflix's July 24, 2012
disclosure that net domestic streaming subscription additions were at about
530,000 for the second quarter of 2012 and that the Company might not meet its
year-end target of 7 million net domestic streaming subscription additions,
the value of Netflix shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice.You
need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
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