NYSE: WLY

John Wiley & Sons, Inc.

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of John Wiley & Sons, Inc. (NASDAQ: WLY, WLYB) resulting from allegations that Wiley may have issued materially misleading business information to the investing public.

If you purchased Wiley securities and would like to join the prospective action, please click “Join This Class Action.”

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Details of investigation:

On March 9, 2023, Wiley announced its Q3 2023 financial results, in which it disclosed issues at Hindawi, one of its subsidiaries. The Company’s CEO stated “Our third quarter results and revised full year outlook are clearly below our expectations” and “While our core business and markets are strong, we’ve been challenged this year by unpredictable market headwinds and an unplanned publishing pause at Hindawi.” It was further announced that “Research was down 4% as reported, or down 2% at constant currency and excluding acquisitions, primarily due to a pause in the Hindawi special issues publishing program. The program was suspended temporarily due to the presence in certain special issues of compromised articles. As a result, Hindawi revenue declined $9 million vs. prior year, offsetting growth in other open access publishing programs.”

On this news, the price of Wiley Class A stock declined by $7.55 per share, or 17.35% on March 9, 2023, to close at $35.96 per share.

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Company Name: John Wiley & Sons, Inc.
Stock Symbol: WLY
Class Period: N/A
Court: N/A
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