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LOS ANGELES, CA / ACCESSWIRE / August 19, 2024 / Schall Law Firm, a firm specializing in shareholder rights disputes, announces that it is investigating claims on behalf of Warner Bros. investors. Discovery, Inc. (“Warner Bros. Discovery” or “the Company” (NASDAQ: WBD) for violations of securities laws.
The investigation focuses on the company issuing false and/or misleading statements and/or failing to disclose data applicable to investors. Warner Bros. Discovery reported its second quarter 2024 financial results on August 7, 2024. The company reported an impairment rate of $9. 1 billion from its Networks division. According to the company, the writedown is “a reaction to the difference between market capitalization and book value, continued weakness in the linear advertising market in the United States and similar uncertainty over association rights renewals and sports rights, adds the NBA”. Taking these facts into account, Warner Bros. Discovery’s movements fell 9. 6% in after-hours trading on the same day.
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Schall Law Firm represents investors from around the world and specializes in securities elegance moves and shareholder rights litigation.
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SOURCE: The Schall Law Firm