Kehoe Law Firm, P.C. is investigating whether certain executive officers and directors of Warner Bros. Discovery, Inc. (“Warner Bros.” or “WBD”) (NASDAQ: WBD) failed to manage Warner Bros. in an acceptable manner, in breach of their fiduciary duties to Warner Bros. and whether WBD and its shareholders were harmed as a result.
Warner Bros., Media Rights, and the NBA
The breach of fiduciary duties investigation concerns whether WBD made materially false and misleading statements regarding its business prospects, particularly its media rights negotiations with the National Basketball Association (“NBA”) and the financial health of its Networks Segment.
More specifically, the investigation concerns whether WBD and its executives misled investors by failing to disclose key risks, including:
- The likelihood that the NBA negotiations would require a major reassessment of WBD’s business operations and goodwill valuations;
- The deterioration of the Networks Segment’s goodwill due to the gap between WBD’s market capitalization and book value; weakness across U.S. advertising markets; and uncertainty surrounding affiliate relationships and sports rights renewals, especially regarding the NBA contract;
- The increased probability of goodwill impairment charges amounting to billions of dollars;
- Whether these factors, if not disclosed, resulted in an artificially inflated and misleading portrayal of WBD’s financial position.
Current Warner Bros. Stock Investors: Learn More About the Investigation and Your Legal Options
To learn more about the investigation or discuss potential legal claims, please send us a message or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], for a free, no-obligation legal evaluation.
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff-side class action law firm specializing in securities fraud, breaches of fiduciary duties, and corporate misconduct. Collectively, the firm’s partners have served as Lead Counsel or Co-Lead Counsel in high-profile cases that have recovered more than $10 billion for both institutional and individual investors.
Our class action legal services are on a contingency-fee basis, meaning you are not responsible for any fees or litigation expenses.
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