Around the Net
Netflix Hit By Class-Action Suit From Investors
- The Hollywood Reporter, Tuesday, January 17, 2012 3:04 PM
A group of Netflix investors filed a class-action lawsuit against the company, alleging it withheld info about contracts with content providers.
The plaintiffs say that "Netflix concealed the fact that content providers were demanding much higher license fees, that pricing would need to increase, and that Netflix wasn't on track to meet earnings forecasts," writes Eriq Gardner.
