06:39 AM EST, 11/27/2024 (MT Newswires) -- Netflix ( NFLX ) on Tuesday convinced a judge to dismiss a shareholder class action lawsuit against it over allegations of downplaying the impact of account sharing on subscriber growth, news outlets reported.

The lawsuit, initiated by a Texas-based trustee, was initiated after Netflix ( NFLX ) revealed in 2022 that it had lost 200,000 subscribers in a quarter because of account sharing, rising competition, and a shutdown of service in Russia, Reuters reported.

US District Judge Jon Tigar rejected arguments that Netflix ( NFLX ) played down the impact of account sharing, where one paying subscriber shares their login information with friends and families.

Netflix ( NFLX ) did not immediately reply to MT Newswires' request for comment.