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LOS ANGELES, CA / ACCESSWIRE / August 22, 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 issuing 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 amortization is “a reaction to the difference between market capitalization and book value, continued weakness in the linear advertising market in the United States, and uncertainty similar to the renewal of association rights and sports rights,” the NBA added. Given these facts, Warner Bros. Discovery fell 9. 6% in same-day after-hours trading.
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SOURCE: The Schall Law Firm