Netflix shareholders sue over subscription slump disclosures


FILE PHOTO: The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Netflix Inc has been hit with a shareholder lawsuit in a U.S. court in California accusing the streaming entertainment company of misleading the market about its ability to keep adding subscribers in recent months.

The lawsuit filed in San Francisco federal court on Tuesday seeks damages for declines in Netflix's share price this year after the company missed its subscriber growth estimates.

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