NEW YORK, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Warner Bros. Discovery, Inc. (“WBD” or the “Company”) (NASDAQ:WBD) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired WBD securities between February 23, 2024 and August 7, 2024, both dates inclusive (the “Class Period”). Investors have until January 24, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) WBD's sports rights negotiations with the NBA were causing, or were likely to cause, the Company 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, the Company's public statements were materially false and misleading at all relevant times.
If you purchased or otherwise acquired WBD shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
