Contact Levi & Korsinsky by January 24, 2025 Deadline to Join Class Action Against Warner Bros. Discovery, Inc.(WBD)

Key Takeaways:

• Warner Bros. Discovery faces a class action lawsuit alleging securities fraud.
• Allegations involve misleading statements about NBA negotiations and goodwill.
• The lawsuit covers investor losses between February 23, 2024, and August 7, 2024.
• January 24, 2025, is the deadline to request lead plaintiff status.
• Levi & Korsinsky, LLP is leading the lawsuit, known for securities litigation expertise.

Investors Allege Misleading Statements During NBA Negotiations

Warner Bros. Discovery, Inc. (NASDAQ: WBD) is facing a class action securities lawsuit filed by the law firm Levi & Korsinsky, LLP. The lawsuit alleges that the company made false statements and concealed critical information regarding its business operations and financial health, particularly in relation to negotiations with the National Basketball Association (NBA).

Details of the Allegations

According to the complaint, between February 23, 2024, and August 7, 2024, Warner Bros. Discovery engaged in securities fraud by overstating its business prospects and concealing significant financial challenges. The lawsuit claims that the company’s sports rights negotiations with the NBA were causing, or were likely to cause, a substantial reevaluation of its business and goodwill.

Furthermore, it is alleged that the goodwill in the company’s Networks segment had significantly deteriorated due to differences between market capitalization and book value, ongoing softness in certain U.S. advertising markets, and uncertainties related to affiliate and sports rights renewals, including those with the NBA. The company’s public statements during this period are claimed to be materially false and misleading.

Impact on Investors

Investors who purchased Warner Bros. Discovery securities during the specified period may have suffered financial losses as a result of the alleged misconduct. The lawsuit seeks to recover these losses on behalf of the affected investors. It emphasizes that the company’s actions adversely affected shareholders who relied on its public statements and assessments of its financial health.

Legal Proceedings and Deadlines

Levi & Korsinsky, LLP has notified investors of the opportunity to join the class action lawsuit. Affected investors have until January 24, 2025, to request that the court appoint them as lead plaintiff. Serving as lead plaintiff is not mandatory to participate in any potential recovery but allows investors to take a more active role in the litigation process.

There is no cost or obligation for investors to participate in the lawsuit. Class members may be entitled to compensation without the payment of any out-of-pocket fees.

About Levi & Korsinsky, LLP

Levi & Korsinsky is a nationally recognized law firm specializing in securities litigation. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders and has a strong track record in winning high-stakes cases. With a team of over 70 employees, the firm has been ranked in ISS Securities Class Action Services’ Top 50 Report for seven consecutive years, highlighting its status as one of the leading securities litigation firms in the United States.

Next Steps for Affected Investors

Investors who believe they were impacted by Warner Bros. Discovery’s alleged securities fraud are encouraged to contact Levi & Korsinsky for more information. Joseph E. Levi, Esq., can be reached via email at

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