Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Deadline to Lead in Securities Fraud Lawsuit Against Warner Bros. Discovery, Inc. (WBD) is January 24, 2025 - Contact Kaplan Fox & Kilsheimer LLP By: TheNewswire.com December 05, 2024 at 09:00 AM EST NEW YORK - (NewMediaWire) - December 05, 2024 - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Warner Bros. Discovery, Inc. (“Warner Bros.” or the “Company”) (NASDAQ: WBD) on behalf of investors that purchased or otherwise acquired Warner Bros. securities between February 23, 2024 and August 7, 2024 (the “Class Period”).CLICK HERE TO JOIN THE CASE If you are an investor in Warner Bros. and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003. DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than January 24, 2025, to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process. According to the complaint, throughout the Class Period, the Defendants made materially false and misleading statements and/or failed to disclose to investors that (i) Warner Bros. sports rights negotiations with the NBA were causing, or were likely to cause, the Company to significantly reevaluate its business and goodwill, (ii) Warner Bros. 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, and (iii) the foregoing significantly increased the likelihood of Warner Bros. incurring billions of dollars in goodwill impairment charges. On August 7, 2024, Warner Bros. disclosed an approximate $10 billion net loss for the second quarter of 2024. The $10 billion loss included “a $9.1 billion non-cash goodwill impairment charge from the Networks segment, as well as $2.1 billion of pre-tax acquisition-related amortization of intangibles, content fair value step-up, and restructuring expenses.” The Company press release also stated that the goodwill impairment charge was “triggered in response to the difference between market capitalization and book value, continued softness in the U.S. linear advertising market, and uncertainty related to affiliate and sports rights renewals, including the NBA.” Additionally, during the conference call that followed, the Company’s Chief Financial Officer stated “a sports right discussion like the one with the NBA comes into play as a triggering event, which then compels us to re-evaluate our business case.” Following this news, the price of Warner Bros. stock fell $.69 per share, nearly 9%, to close at $7.02 per share on August 8, 2024. WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this Notice, your rights, or your interests, please contact: CONTACT: Pamela A. MayerKAPLAN FOX & KILSHEIMER LLP800 Third Avenue, 38th FloorNew York, New York 10022(646) 315-9003pmayer@kaplanfox.com Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704lking@kaplanfox.com Stock Quote API & Stock News API supplied by www.cloudquote.io Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Deadline to Lead in Securities Fraud Lawsuit Against Warner Bros. Discovery, Inc. (WBD) is January 24, 2025 - Contact Kaplan Fox & Kilsheimer LLP By: TheNewswire.com December 05, 2024 at 09:00 AM EST NEW YORK - (NewMediaWire) - December 05, 2024 - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Warner Bros. Discovery, Inc. (“Warner Bros.” or the “Company”) (NASDAQ: WBD) on behalf of investors that purchased or otherwise acquired Warner Bros. securities between February 23, 2024 and August 7, 2024 (the “Class Period”).CLICK HERE TO JOIN THE CASE If you are an investor in Warner Bros. and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003. DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than January 24, 2025, to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process. According to the complaint, throughout the Class Period, the Defendants made materially false and misleading statements and/or failed to disclose to investors that (i) Warner Bros. sports rights negotiations with the NBA were causing, or were likely to cause, the Company to significantly reevaluate its business and goodwill, (ii) Warner Bros. 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, and (iii) the foregoing significantly increased the likelihood of Warner Bros. incurring billions of dollars in goodwill impairment charges. On August 7, 2024, Warner Bros. disclosed an approximate $10 billion net loss for the second quarter of 2024. The $10 billion loss included “a $9.1 billion non-cash goodwill impairment charge from the Networks segment, as well as $2.1 billion of pre-tax acquisition-related amortization of intangibles, content fair value step-up, and restructuring expenses.” The Company press release also stated that the goodwill impairment charge was “triggered in response to the difference between market capitalization and book value, continued softness in the U.S. linear advertising market, and uncertainty related to affiliate and sports rights renewals, including the NBA.” Additionally, during the conference call that followed, the Company’s Chief Financial Officer stated “a sports right discussion like the one with the NBA comes into play as a triggering event, which then compels us to re-evaluate our business case.” Following this news, the price of Warner Bros. stock fell $.69 per share, nearly 9%, to close at $7.02 per share on August 8, 2024. WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this Notice, your rights, or your interests, please contact: CONTACT: Pamela A. MayerKAPLAN FOX & KILSHEIMER LLP800 Third Avenue, 38th FloorNew York, New York 10022(646) 315-9003pmayer@kaplanfox.com Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704lking@kaplanfox.com
NEW YORK - (NewMediaWire) - December 05, 2024 - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Warner Bros. Discovery, Inc. (“Warner Bros.” or the “Company”) (NASDAQ: WBD) on behalf of investors that purchased or otherwise acquired Warner Bros. securities between February 23, 2024 and August 7, 2024 (the “Class Period”).CLICK HERE TO JOIN THE CASE If you are an investor in Warner Bros. and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003. DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than January 24, 2025, to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process. According to the complaint, throughout the Class Period, the Defendants made materially false and misleading statements and/or failed to disclose to investors that (i) Warner Bros. sports rights negotiations with the NBA were causing, or were likely to cause, the Company to significantly reevaluate its business and goodwill, (ii) Warner Bros. 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, and (iii) the foregoing significantly increased the likelihood of Warner Bros. incurring billions of dollars in goodwill impairment charges. On August 7, 2024, Warner Bros. disclosed an approximate $10 billion net loss for the second quarter of 2024. The $10 billion loss included “a $9.1 billion non-cash goodwill impairment charge from the Networks segment, as well as $2.1 billion of pre-tax acquisition-related amortization of intangibles, content fair value step-up, and restructuring expenses.” The Company press release also stated that the goodwill impairment charge was “triggered in response to the difference between market capitalization and book value, continued softness in the U.S. linear advertising market, and uncertainty related to affiliate and sports rights renewals, including the NBA.” Additionally, during the conference call that followed, the Company’s Chief Financial Officer stated “a sports right discussion like the one with the NBA comes into play as a triggering event, which then compels us to re-evaluate our business case.” Following this news, the price of Warner Bros. stock fell $.69 per share, nearly 9%, to close at $7.02 per share on August 8, 2024. WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this Notice, your rights, or your interests, please contact: CONTACT: Pamela A. MayerKAPLAN FOX & KILSHEIMER LLP800 Third Avenue, 38th FloorNew York, New York 10022(646) 315-9003pmayer@kaplanfox.com Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704lking@kaplanfox.com
