#United States #New York #Class Action #Securities #Warner Bros. Discovery

Important Notice for Warner Bros. Discovery Investors

Levi & Korsinsky, LLP is making an urgent announcement for shareholders of Warner Bros. Discovery, Inc. (NASDAQ: WBD). This esteemed law firm informs investors of a significant class action lawsuit seeking to protect the rights of those who may have been impacted by alleged securities fraud. If you invested in Warner Bros. Discovery between February 23, 2024, and August 7, 2024, it's crucial to be aware of the impending deadline to apply as lead plaintiff, which is set for January 24, 2025.

Overview of the Case

The class action focuses on claims that certain actions taken by the company could have misled investors about its financial health. Specifically, the lawsuit alleges that the defendants made false statements or failed to disclose critical information regarding the negotiations over sports rights with the NBA. These negotiations are said to have compelled Warner Bros. Discovery to reassess its business strategies and overall goodwill, potentially leading to severe financial implications, including impairments worth billions.

Key Allegations

1. Misrepresentation of Financial Status: The complaint asserts that statements from company officials inaccurately portrayed WBD’s business outlook and financial stability.
2. Deterioration of Goodwill: Allegations indicate that the firm’s goodwill in its Networks segment was significantly undermined due to varying pressures, affecting its market capitalization compared to book value.
3. Increased Risk of Losses: The non-disclosure of potential goodwill impairment charges dramatizes the risk shareholders faced, which could result from various issues including declining advertising revenue and uncertainties around partner renewals.
4. False and Misleading Public Statements: Investors were reportedly led to believe in a stronger financial health than what was actually the case, with grave consequences for their investments when the truth surfaced.

Next Steps for Shareholders

Investors who suffered financial losses related to Warner Bros. Discovery during the specified period have until the January 24, 2025 deadline to take action. You do this by filing a request for the court to recognize you as the lead plaintiff in the ongoing class action. However, it’s essential to note that filing for lead plaintiff status is not a requirement to claim your share of any potential recovery from the case.

No Costs Involved

Levi & Korsinsky assures affected shareholders that participation in this class action and any recuperations due will come at no upfront cost. This means you can join the lawsuit without fear of incurring any immediate financial burdens as all out-of-pocket costs will be covered within the legal proceedings.

Choosing Levi & Korsinsky

Choosing a legal representative is critical, and Levi & Korsinsky brings two decades of experienced advocacy for shareholders, recovering hundreds of millions in settlements for investors. Their dedicated team of over 70 professionals specializes in complex securities litigation, making them a formidable ally in pursuing justice for affected shareholders. They have consistently been recognized among the top securities litigation firms in the United States by ISS Securities Class Action Services.

Contact Information

For more information about the case or to inquire about your eligibility, shareholders are encouraged to reach out to Joseph E. Levi or Ed Korsinsky through the following contact details:

• - Email: info@zlk.com
• - Phone: (212) 363-7500

Act now and ensure your voice and rights as an investor are represented in this critical legal matter surrounding Warner Bros. Discovery.