Investors sue Warner Bros. Discovery over alleged misrepresentation on NBA rights loss impact.

Investors have filed a class action lawsuit against Warner Bros. Discovery (WBD), alleging the company misled them about the financial impact of losing NBA broadcast rights. The lawsuit, filed by Robbins LLP, claims WBD overstated its business and financial prospects, leading to a $9.1 billion goodwill impairment charge and a significant stock price drop. CEO David Zaslav and CFO Gunnar Wiedenfels are named defendants.

November 26, 2024
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