Netflix experienced a bumpy year in 2011. Its shares spiked and plummeted, it lost thousands of subscribers then gained them back, it faced growing competition, and a class action lawsuit was filed against it alleging that the video subscription service violated consumer's privacy.
But things seem to be looking up for Netflix--not only did it do better than expected in the fourth quarter and now has more subscribers than ever, it also settled the lawsuit.
On Friday, Netflix filed an agreement to pay $9 million to settle the class action suit, which was originally submitted in January 2011.
The … Read more