NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of Warner Bros. Discovery, Inc. (NASDAQ: WBD) between February 23, 2024 and August 7, 2024. WBD describes itself as a “global media and entertainment company that provides a portfolio of content, brands, and franchises across television, film, streaming, and gaming outlets.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Warner Bros. Discovery, Inc. (NASDAQ: WBD) Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) WBD’s sports rights negotiations with the National Basketball Association (“NBA”) were causing, or were likely to cause, WBD to significantly reevaluate its business and goodwill; (2) WBD’s goodwill in its Networks segment had significantly deteriorated as a result of the difference between its market capitalization and book value, continued softness in certain U.S. advertising markets, and uncertainty related to affiliate and sports rights renewals, including with the NBA; (3) the foregoing significantly increased the likelihood of WBD incurring billions of dollars in goodwill impairment charges; (4) accordingly, defendants had overstated WBD’s overall business and financial prospects; and (5) as a result, WBD’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Warner Bros. Discovery, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by January 24, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.
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