Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, Dec. 19, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Warner Bros. Discovery, Inc. ("Warner Bros." or the "Company") (NASDAQ: WBD) investors of a class action representing investors that bought securities between February 23, 2024 and August 7, 2024, inclusive (the "Class Period"). Warner Bros. investors have until January 24, 2025 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

The class action lawsuit against Warner Bros. claims that the defendants made false and/or misleading statements and/or failed to disclose that: (i) negotiations between Warner Bros. and the National Basketball Association (NBA) over sports rights were causing, or were likely to cause, the company to reassess its business and goodwill significantly; (ii) Warner Bros.'s goodwill in its Networks segment had deteriorated substantially due to the gap between its market capitalization and book value, ongoing challenges in certain U.S. advertising markets, and uncertainty surrounding affiliate and sports rights renewals, including with the NBA; (iii) these factors greatly increased the likelihood that Warner Bros. would face billions of dollars in goodwill impairment charges; and (iv) as a result, the defendants had overstated Warner Bros.'s overall business and financial outlook.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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