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LOS ANGELES, CA / ACCESSWIRE / August 20, 2024 / The Schall Law Firm, a shareholder rights litigation firm, 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 making false and/or misleading statements and/or failing to disclose applicable data to investors. Warner Bros. Discovery reported its second quarter 2024 financial effects on August 7, 2024. The company reported an impairment rate of $9. 1 billion from its Networks division. According to the company, the deterioration is “a reaction to the difference between market capitalization and e-book value, continued weakness in the linear advertising market in the United States, and uncertainty similar to associated and sports rights renewals, adding the NBA. ” Based on those facts, Warner Bros. Discovery 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 movements and shareholder rights litigation.
This press release may be an announcement to attorneys in certain jurisdictions under applicable laws and standards of professional conduct.
SOURCE: The Schall Law Firm