According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- WBD’s sports rights negotiations with the National Basketball Association (“NBA”) were causing, or were likely to cause, WBD to significantly reevaluate its business and goodwill;
- WBD’s goodwill in its Networks segment had significantly deteriorated as a result of the difference between its market capitalization and book value, continued softness in certain U.S. advertising markets, and uncertainty related to affiliate and sports rights renewals, including with the NBA;
- the foregoing significantly increased the likelihood of WBD incurring billions of dollars in goodwill impairment charges;
- accordingly, defendants had overstated WBD’s overall business and financial prospects; and
- as a result, WBD’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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