Netflix Loses Fox Lawsuit Appeal

  • Netflix Inc NFLX lost its appeal to a court decision that the company stops poaching fixed-term staff from Fox Corp FOX FOXABloomberg reports, citing a California appellate court. 
  • Fox’s agreements provided “stability and predictability” for employees, Justice Dorothy C. Kim said. 
  • She also rejected Netflix’s argument that Fox pressed employees into extending their contracts, thereby holding them under contract longer than the legally allowed limit under California law.
  • The poached employees in question were “sophisticated business executives who negotiated their fixed-term employment agreements with Fox at arm’s length,” Kim wrote.
  • Fox prosecuted Netflix in 2016, claiming the streaming service attracted certain Fox executives to depart the company and a state trial court ordered an injunction.
  • Price Action: NFLX shares traded higher by 0.73% at $620.94 premarket on the last check Friday.
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