NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against John Wiley & Sons, Inc. (“John Wiley” or the “Company”) (NYSE: WLY). The investigation concerns whether John Wiley and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
John Wiley publishes print and electronic products, with headquarters in New Jersey.
On March 9, 2023, the Company announced its third quarter financial results for 2023, as part of which it disclosed problems at its subsidiary, Hindawi. According to the Company, “[o]ur third quarter results and revised full year outlook are clearly below [] expectations” and “[w]hile our core business and markets are strong, we’ve been challenged this year by unpredictable market headwinds and an unplanned publishing pause at Hindawi.” John Wiley added, “Research was down 4% as reported, or down 2% at constant currency and excluding acquisitions, primarily due to a pause in the Hindawi special issues publishing program. The program was suspended temporarily due to the presence in certain special issues of compromised articles. As a result, Hindawi revenue declined $9 million versus the prior year, offsetting growth in other open access publishing programs.” On this news, the price of John Wiley shares declined by $7.48 per share, or approximately 17.35%, from $43.11 per share to close at $35.63 on March 9, 2023.
If you purchased or otherwise acquired John Wiley securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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