Thursday, July 29, 2004
Investors Sue Netflix Over Churn Rate
This sounds to me like a bunch of money-grubbing lawyers trying to exploit Netflix's success on behalf of greedy speculators, but you can read all about it yourself. Investors as a class are suing Netflix for "material misrepresentations to the market which had the effect of artificially inflating the market price." Good grief. You can join the class if you qualify.
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What we need are more lawyers! No, no, hear me out. One of the problems with the so-called frivolous lawsuit is the fact that defending yourself against a suit can cost so much that you're often inclined not to go to court, but settle instead. With more and more lawyers, attorneys will compete to drive down transaction fees, thus reducing the probability of out-of-court settlements. If you think your case will actually go to court, you're more likely to have second thoughts about pursuing loser cases, thus weeding out the frivolity.
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