Class-action suit says company issued 'misleading statements'
(NEWSER) - Netflix's shareholders are none too happy with the streaming video giant's plummeting share price, and now they're biting back with a class action lawsuit. The suit, filed recently in California, alleges that Netflix "issued materially false and misleading statements," and failing to disclose crucial info. The latter includes the duration of its contracts with content providers, many of which were short and would soon have to be renegotiated at higher rates, Paid Content reports. More»