Warner Bros. Discovery, Inc. Class Action: The Gross Law Firm Reminds Warner Bros.

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Warner Bros. Discovery, Inc. regarding a class action lawsuit due to alleged misleading statements and omissions related to the company's financial health and goodwill [1][3]. Group 1: Allegations - The complaint alleges that during the class period from February 23, 2024, to August 7, 2024, Warner Bros. Discovery (WBD) made materially false and misleading statements [3]. - It is claimed that WBD's negotiations for sports rights with the NBA were likely to cause a significant reevaluation of its business and goodwill [3]. - The goodwill in WBD's Networks segment is said to have significantly deteriorated due to the disparity between its market capitalization and book value, along with ongoing softness in U.S. advertising markets and uncertainties regarding affiliate and sports rights renewals [3]. - The allegations suggest that these factors increased the likelihood of WBD incurring billions of dollars in goodwill impairment charges [3]. - Consequently, it is asserted that the defendants overstated WBD's overall business and financial prospects, making public statements materially false and misleading [3]. Group 2: Next Steps for Shareholders - Shareholders who purchased WBD shares during the specified class period are encouraged to register for the class action, with a deadline set for January 24, 2025 [4]. - Upon registration, shareholders will be enrolled in a portfolio monitoring system to receive updates on the case's status [4]. - There is no cost or obligation for shareholders to participate in this case [4].