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Discovery, Inc. (NASDAQ: DISCA, NASDAQ: DISCK) Investor Notice: Lawsuit alleges Securities Laws Violations by Goldman Sachs and Morgan Stanley

01-22-2022 04:15 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Discovery, Inc. (NASDAQ: DISCA, NASDAQ: DISCK) shares.

A lawsuit was filed on behalf of investors in Discovery, Inc. (NASDAQ: DISCA, NASDAQ: DISCK) shares.

An investor, who purchased shares of Discovery, Inc. (NASDAQ: DISCA, NASDAQ: DISCK), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws.

Investors who purchased a significant amount of shares of Discovery, Inc. (NASDAQ: DISCA, NASDAQ: DISCK) between March 22, 2021 and March 29, 2021, have certain options and for certain investors are short and strict deadlines running. Deadline: March 8, 2022. Discovery, Inc. (NASDAQ: DISCA, NASDAQ: DISCK) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Both Goldman Sachs and Morgan Stanley are global financial services institutions that served as prime brokers for Archegos Capital Management (“Archegos”), a family office with $10 billion under management, helping Archegos make trades and lending it capital in the form of margin lending.

According to the complaint the plaintiff alleges on behalf of purchasers of Discovery, Inc. (NASDAQ: DISCA, NASDAQ: DISCK) common shares between March 22, 2021 and March 29, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 22, 2021 and March 29, 2021 Goldman Sachs and Morgan Stanley sold a large amount of Discovery shares while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure. As a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.

Shares of Discovery, Inc. (NASDAQ: DISCA) declined from $78.14 per share on March 19, 2021, to as low as $28.89 per share on June 18, 2021.

Shares of Discovery, Inc. (NASDAQ: DISCK) declined from $66.70 per share on March 22, 2021, to as low as $27.16 per share on June 18, 2021.

Those who purchased shares of Discovery, Inc. (NASDAQ: DISCA, NASDAQ: DISCK) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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