NETFLIX CLASS ACTION SETTLEMENT

NETFLIX CLASS ACTION SETTLEMENT  

More problems seem to be arising for the beleaguered video streaming company, Netflix.

Current and Former Netflix users take notice:  there is a class action settlement that can affect you.  The settlement, which stems from claims that Netflix kept and disclosed vital information against the law,  will provide $9M into a settlement fund.  Provisions of the settlement include that Netflix will make donations to non-profit organizations, programs, or institutions.

With the company still reeling from a service fiasco that saw its share price drop from a high of nearly $300 per share, to a current price of about $57 per share, this setback is certainly troublesome for Netflix and its shareholders.

Sources:

http://terminalgamer.com/2012/07/29/if-you-are-a-current-or-former-netflix-subscriber-a-class-action-settlement-could-affect-you/

http://finance.yahoo.com/q?s=NFLX

 

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