Warner Bros. Discovery’s Class Action Win Upheld on Appeal

Summary

The ruling confirms that the companies did not deceive investors prior to the merger. Investors claimed that stock declines were tied to misstatements.

Bloomberg Law

"Warner Bros. Discovery Inc. and its top executives prevailed again on appeal in a securities lawsuit, after a panel of Second Circuit judges ruled Friday that investors couldn’t show the entertainment giant misled them in disclosures before its merger took place.

The offering documents for the tie-up between Warner Bros. and Discovery allegedly left out key details about subscriber numbers, third-party licensing, and content release strategy, but those claims aren’t sufficient to show “actionable omissions” in disclosures, the unsigned opinion said.

Investors had alleged that both Discovery and WarnerMedia stated they had scrutinized each other’s investment plans and nonpublic financial ..."

This article was originally published in the Bloomberg Law.

Warner Bros. Discovery’s Class Action Win Upheld on Appeal

Published by Administrator on November 1, 2024November 1, 2024

Summary

Corporate Transparency Act’s Fate Unclear After High Court Order

FTC Finalizes Children’s Privacy Rule Minimizing Data Collection

US Files Antitrust Suit to Block Amex GBT-CWT Travel Merger

Warner Bros. Discovery’s Class Action Win Upheld on Appeal

Published by Administrator on November 1, 2024November 1, 2024

Summary

Related Posts

Corporate Transparency Act’s Fate Unclear After High Court Order

FTC Finalizes Children’s Privacy Rule Minimizing Data Collection

US Files Antitrust Suit to Block Amex GBT-CWT Travel Merger