NEW YORK, Sept. 28, 2022 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a state securities class action lawsuit has been filed against Discovery, Inc. (“Discovery”) and Warner Bros. Discovery, Inc. in the United States District Court for the Southern District of New York. WBD (“Warner Bros.”) and certain officers of the Company (collectively, the “Defendants”) on behalf of investors who:
- Discovery common stock exchanged for Warner Bros. common stock pursuant to Discovery’s registration statement dated February 4, 2022 on Form S-4 and Joint Proxy Statement/Prospectus filed with the Securities and Exchange Commission on February 10, 2022, or
- Bought shares of Warner Bros. common stock on the open market attributable to the prospectus up to the date of the complaint (the “Collection Period”).
All investors who have bought the Shares and suffered losses are advised to contact the Company immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You can get additional information about the promotion or join the case on our website, www.whafh.com.
If you have suffered losses, you can at the latest November 22, 2022, request that the court appoint you lead plaintiff in the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
PLEASE CLICK HERE TO JOIN THE EVENT
The lawsuit alleges that the defendants made materially false and misleading statements and omitted material facts in the registration statement and prospectus for Warner Bros. common stock. The Complaint’s allegations related to the merger between Discovery and AT&T’s WarnerMedia business (the “Merger”). The merger was announced on May 17, 2021 and completed on April 8, 2022. Pursuant to the merger, Discovery combined its business with WarnerMedia to bring Warner Bros.
At the time of filing the Registration Statement and Prospectus, the Defendants were aware of either adverse information regarding the operation of the…
