1. WBD faces a class action lawsuit regarding misleading statements. 2. Allegation involves significant issues with sports rights negotiations and goodwill impairment. 3. Deadline to register for shareholder involvement in case is January 24, 2025. 4. WBD's public financial prospects allegedly overstated during the class period.
Lawsuits can negatively influence stock prices, as seen in past cases involving similar allegations.
The lawsuit could lead to financial penalties or operational changes that impact WBD's valuation.
Immediate class action developments may affect market sentiment and stock price quickly.
The Gross Law Firm issues the following notice to shareholders of Warner Bros. Discovery, Inc. (NASDAQ: WBD).
Shareholders who purchased shares of WBD during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
February 23, 2024 to August 7, 2024
The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) WBD's sports rights negotiations with the NBA were causing, or were likely to cause, the Company to significantly reevaluate its business and goodwill; (ii) 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; (iii) the foregoing significantly increased the likelihood of WBD incurring billions of dollars in goodwill impairment charges; (iv) accordingly, defendants had overstated WBD's overall business and financial prospects; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
January 24, 2025. Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/warner-bros-discovery-loss-submission-form/?id=121981&from=4
Once you register as a shareholder who purchased shares of WBD during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is January 24, 2025. There is no cost or obligation to you to participate in this case.
The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
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Phone: (646) 453-8903
SOURCE: The Gross Law Firm