Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Netflix, Inc.

  Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Netflix,
  Inc.

Business Wire

WASHINGTON -- March 13, 2013

Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine
whether Netflix, Inc. (“Netflix” or the “Company”) and certain of its officers
and directors made false and misleading statements and/or omissions in
violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

A class action lawsuit was filed in the U.S. District Court for the Northern
District of California by another law firm on behalf of purchasers of the
common stock of Netflix, Inc. (NASDAQ: NFLX) between July 3, 2012 and July 24,
2012, inclusive (the “Class Period”).

On July 3, 2012, Netflix’s CEO made a Facebook post concerning volume usage of
the Company’s video streaming service. The complaint alleges this statement
misled investors by “affirming” his April 23, 2012 statements that Netflix
“was continuing to execute on all of the key dimensions” and “everything was
consistent with what we’d been hoping for,” and led the market to believe that
the Company was on target to achieve its previously stated target of 7 million
net additional domestic subscribers in 2012.

On July 24, 2012, Netflix released second quarter 2012 results which reported
lower than expected domestic subscriber growth. Specifically, Netflix reported
23.9 million domestic streaming subscribers versus analysts’ expectations of
24.3 million. Netflix added 530,000 domestic streaming subscribers in the
second quarter, which was below what analysts were expecting in light of the
CEO’s July 3 comment. The price of Netflix shares fell from $80.39 to $60.28
on July 25.

Cohen Milstein encourages all investors who purchased Netflix common stock
between July 3, 2012 and July 24, 2012, or former employees with information
concerning this matter, to contact the firm.

If you are a Netflix shareholder and would like to discuss your right to
recover for your economic loss, you may, without any cost or obligation, call
Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202)
408-4600, or email him at stoll@cohenmilstein.com. If you wish to serve as
lead plaintiff, you must move the Court no later than April 22, 2013 to
request that the Court appoint you as lead plaintiff. A lead plaintiff is a
representative party acting on behalf of other class members in directing the
litigation. To be appointed lead plaintiff, the Court must decide that your
claim is typical of the claims of other class members, and that you will
adequately represent the class. Your share in any recovery will not be
enhanced or diminished by the decision whether or not to serve as a lead
plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers
& Toll PLLC or other attorneys to serve as your counsel in this action, or you
may do nothing and remain an absent class member.

Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting
investor class actions and actions involving securities fraud. The firm has
offices in Washington, D.C., New York, Chicago, Philadelphia and West Palm
Beach, and is active in major litigation pending in federal and state courts
throughout the nation.

The firm’s reputation for excellence has repeatedly been recognized by courts
which have appointed the firm to lead positions in complex multi-district or
consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead
role in numerous important cases on behalf of defrauded investors, and has
been responsible for a number of outstanding recoveries which, in the
aggregate, total over a billion dollars. Prior results do not guarantee a
similar outcome. For more information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with regard to
your rights, please contact either of the following:

Steven J. Toll, Esq.
Cameron Clark
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
West Tower, Suite 500
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: stoll@cohenmilstein.com; cclark@cohenmilstein.com

Attorney Advertising

Contact:

Cohen Milstein Sellers & Toll PLLC
Steven J. Toll, Esq.
888-240-0775 or 202-408-4600
stoll@cohenmilstein.com
or
Cameron Clark
888-240-0775 or 202-408-4600
cclark@cohenmilstein.com
 
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