#United States #New York #Levi & Korsinsky #Securities Fraud #Warner Bros.

Important Notice for Warner Bros. Discovery Investors

On December 10, 2024, Levi & Korsinsky, LLP issued a notification to shareholders of Warner Bros. Discovery, Inc. regarding a significant class action securities lawsuit. This legal action aims to recover losses incurred by investors between February 23, 2024, and August 7, 2024, due to alleged securities fraud.

Class Action Lawsuit Description

The class action lawsuit highlights that Warner Bros. Discovery, trading under the NASDAQ ticker WBD, made misleading statements that adversely influenced its stock value. Allegations include that the company concealed serious issues impacting its business evaluations, specifically concerning their negotiations for sports rights with the NBA.

These negotiations led to a considerable reassessment of the company's overall business and goodwill, with assertions that the company's market capitalization was grossly overstated compared to its book value. Further, it was claimed that continuous weak performance in U.S. advertising markets, combined with uncertainties surrounding affiliate and sports rights renewals, including NBA contracts, degraded their goodwill substantially.

The lawsuit indicates that these misrepresentations heightened the potential for Warner Bros. Discovery to incur significant goodwill impairment charges, contrary to previously stated public knowledge of their financial health.

Key Dates and Next Steps

Investors impacted by these claims are encouraged to reach out to Levi & Korsinsky no later than January 24, 2025. By articulating their concerns before this deadline, affected shareholders can request to be appointed as lead plaintiffs in the case. Though stepping up as a lead plaintiff is beneficial, it is not a prerequisite to pursue potential recovery in this matter.

No Cost for Affected Shareholders

Participation in this class action does not require any upfront payments or out-of-pocket expenses, making it a risk-free opportunity for affected investors to explore their options for compensation. Potential members of the class are urged to take advantage of this chance to confront the alleged misdeeds of Warner Bros. Discovery and seek rightful reparations.

Levi & Korsinsky's Expertise and Background

With over 20 years of experience in securities litigation, Levi & Korsinsky has a proven track record of securing hundreds of millions in settlements for shareholders. Their formidable team of more than 70 professionals is dedicated to representing investor interests in complex legal matters. For seven consecutive years, Levi & Korsinsky has distinguished itself in the industry, ranking among the top 50 securities litigation firms in the United States, according to ISS Securities Class Action Services.

Contact Information

Affected shareholders should not hesitate to reach out to Joseph E. Levi, Esq., or Ed Korsinsky, Esq. at Levi & Korsinsky, LLP. They can contact the firm via email or by phone at 212-363-7500. For further inquiries, the firm’s office is located at 33 Whitehall Street, 17th Floor, New York, NY 10004. More details are accessible on their website: zlk.com.

Conclusion

For shareholders of Warner Bros. Discovery, this announcement is critical. Engaging with Levi & Korsinsky before the stipulated deadline ensures that your rights are protected as part of this class action initiative. Don’t miss the chance to secure your potential compensation as part of this legal process.