Another bump in the road for Netflix Inc. (Nasdaq: NFLX) kicks off our cable news roundup.
Netflix is facing a class-action lawsuit in California over claims that the company gave false and misleading statements about its business practices and studio contracts, which combined to inflate the company's stock price. Netflix's stock went into a free fall last year amid a number of stumbles, including a price hike and a temporary decision to split out its DVD and streaming video services. Netflix shares were up $1.05 (1.11 percent) to $95.43 each in early trading Tuesday. Its 52-week high is $304.79. (See How Far Will Netflix Fall? and 2011 Top Ten: Video Battles & Blunders.)
LG Electronics Inc. (London: LGLD; Korea: 6657.KS) may be the first CE company to get its hands on the next iteration of the Google TV software, giving the company what it needs to develop a TV that integrates the service, which includes some over-the-top fare. (See Google TV's Refresh .)