Posted on 05/05/2022 6:31:42 AM PDT by shadowlands1960
As its stock tanks and its subscribers continue to flee, Netflix is now facing a shareholder lawsuit accusing the left-wing streamer of misleading investors about the difficulties the company was experiencing in retaining customers.
The lawsuit, which was filed Tuesday in a northern California federal court, covers Netflix shareholders who bought the stock between October 19, 2021 and April 19, 2022 — a period during which the value of the stock plummeted a stunning 67 percent.
“As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages,” the court filing states.
The suit, which is being brought by a trustee of an entity called the Imperium Irrevocable Trust, cited public statements made by Netflix during its most recent third and fourth quarter earnings reports in which the company painted an optimistic picture of subscriber growth.
(Excerpt) Read more at breitbart.com ...
They have a terrible movie selection, and are charging $20/month for 40 &50 year old movies along with many distasteful movies. I’ve never had a subscription but did have use of my daughter’s. When the price went up, I uninstalled the software. It didn’t matter that I wasn’t paying for it, I wasn’t going to contribute in any form. Matter of principle.
We had a Netflix subscription and didn’t use it for over six months. When we tried to log in, we found that our username and password were invalid. We called Netflix and discovered that our account had been hacked by someone in India. We terminated our account, and opened another one under a different email address. In the meantime, we imagined that there was some rural village in India with a TV perched on a window sill and the whole village was crowded around watching son Netflix series on our dime when the screen suddenly went blank.
Stranger Things was the best original programming I had seen in a long time. But by the third season they couldn’t resist putting a gay character in. I can’t imagine what the fourth season will bring but I’ll never know as I cancelled Netflix a couple years ago.
I wonder about WOKE executives who just can’t run a business.
Maybe a lesson here, is that business people, who know how to build and run successful businesses, don’t get sidetracked by politics.
Maybe there’s a lesson, that conservatives make better business people, because they know what they are doing, and conservative values lend themselves better to doing the work needed to make a business profitable.
Speaking of Netflix and the Obamas, was there a noticeable exodus of subscribers when that deal was announced? I know there was a lot of howling and indignation on the right, with plenty of threats to leave, but I don’t recall any definite outcome.
They were losing subscribers but got reprieved by all the binge TV watching of the pandemic.
I was getting their DVD’s up until 2011, and their selection of old TV series from the 50’s to the 70’s was enormous.
We cancelled our Netfix streaming two years ago due to the woke crap and went back to DVD’s. The oldies selection is nothing compared to what it used to be. The DVD selection is primarily new crap I’d never watch at the theater or watch on TV.
And yet the geniuses that ran the company into,the ground will likely,be hired by some other going woke company at top dollar. I say good , keep spreadign the pain
There were given this bad advice because those "advisers" were indoctrinated proponents...not because those advisers knew a damn thing about running companies.
Exactly right!
I also believe people are getting rid of subscriptions they can no longer afford because they have to pay the monthly subscription price to help fill their tank and buy food.
I foresee a lot of streaming services losing big time this year.
agreed, bottom feeder attorneys hoping for a quick and easy payday....
I too like a number of the Netflix originals but the good ones are few and far between. Even some of the better stuff they stick woke crap into the second or third seasons (See the Witcher for an example). I now find myself scrolling through and thinking “this is all garbage.” This will be a good month for me to cancel.
Exactly. This is all the Kenyan Rock Suckers Fault!!!!
Netflix share price down 70% over last 6 months, at 189.95 now. Their market capitalization is $84B now.
They are competing with multiple other streaming services now, and they are NOT delivering programming people want to watch, and subscribers are cancelling.
This would be a good time for Rumble to branch out to deliver a streaming service featuring shows that people actually would want to watch. Traditional, non-work programming.
“traditional, non-woke programming”, I meant to say
Between the rising cost for a subscription, the woke programming (every show has gay content), and cancelling all their subscribers in Russia, it is going to be a continued fall.
Their biggest problem and one they did know was coming, is the loss of content as all the majors open their own services.
Their original programming waas supposed to mitigate this, but their continue woke programming is turning off people in droves. Looking at you too Amazon...
It bothers me only on a rightful credit basis. I don't know why they don't just call them "Quality Foreign Market" shows or "Global Fare" or something.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.