LOS ANGELES, Dec. 11, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Warner Bros. Discovery, Inc. ("WBD" or "the Company") (NASDAQ: WBD) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between February 23, 2024 and August 7, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before January 24, 2025.           

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. WBD's negotiations with the NBA over sports rights caused it to reevaluate its business prospects and goodwill. The Company's goodwill also deteriorated in its Networks segment due to factors including softness in the advertising market. The Company was likely to face billions in goodwill impairment charges. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about WBD, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm

Brian Schall, Esq.,

www.schallfirm.com

Office: 310-301-3335

info@schallfirm.com

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SOURCE The Schall Law Firm