Warner Bros. Discovery, Inc. Class Action Lawsuit - WBD
Case Summary
Investors who suffered a loss and would like to learn more, click here to contact us.
The Warner Bros. class action lawsuit seeks to represent purchasers or acquirers of Warner Bros. Discovery, Inc. (NASDAQ: WBD) securities between February 23, 2024 and August 7, 2024, inclusive (the “Class Period”). Captioned Collura v. Warner Bros. Discovery, Inc., No. 24-cv-09027 (S.D.N.Y.), the Warner Bros. class action lawsuit charges Warner Bros. and certain of Warner Bros.’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Warner Bros. class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Warner Bros. class action lawsuit must be filed with the court no later than January 24, 2025.
CASE ALLEGATIONS: Warner Bros. operates as a media and entertainment company worldwide.
The Warner Bros. class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Warner Bros.’s sports rights negotiations with the National Basketball Association (“NBA”) were causing, or were likely to cause, Warner Bros. to significantly reevaluate its business and goodwill; (ii) Warner Bros.’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 above significantly increased the likelihood of Warner Bros. incurring billions of dollars in goodwill impairment charges; and (iv) accordingly, defendants had overstated Warner Bros.’s overall business and financial prospects.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Warner Bros. securities during the Class Period to seek appointment as lead plaintiff in the Warner Bros. class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Warner Bros. class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Warner Bros. class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Warner Bros. class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.