NEW YORK, Jan. 22, 2025 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in Warner Bros. Discovery, Inc. (“Warner Bros. Discovery” or the “Company”) (NASDAQ: WBD) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Warner Bros. Discovery investors who were adversely affected by alleged securities fraud between February 23, 2024 and August 7, 2024. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/warner-bros-discovery-lawsuit-submission-form?prid=124055&wire=3
WBD investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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.
WHAT’S NEXT? If you suffered a loss in Warner Bros. Discovery during the relevant time frame, you have until January 24, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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