Investigation announced for Long-Term Investors in Warner Bros. Discovery, Inc. (NASDAQ: WBD) over potential Wrongdoing by certain directors

An investigation was announced over possible breaches of fiduciary duties by certain directors and officers of Warner Bros. Discovery, Inc.

Investors who are current long term investors in Warner Bros. Discovery, Inc. (NASDAQ: WBD) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NASDAQ: WBD stocks follows a lawsuit filed against Warner Bros. Discovery, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: WBD stocks, concerns whether certain Warner Bros. Discovery, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that, the Defendants made false and/or misleading statements and/or failed to disclose that Warner Bros. Discovery 's sports rights negotiations with the NBA were causing, or were likely to cause, the Company to significantly reevaluate its business and goodwill, that Warner Bros. Discovery 's goodwill in its Networks segment had significantly deteriorated as a result of the difference between its market capitalization and book value, continued softness in certain U.S. advertising markets, and uncertainty related to affiliate and sports rights renewals, including with the NBA, that the foregoing significantly increased the likelihood of Warner Bros. Discovery incurring billions of dollars in goodwill impairment charges, that accordingly, Defendants had overstated WBD's overall business and financial prospects, and that as a result, the Company's public statements were materially false and misleading at all relevant times

Those who purchased shares of Warner Bros. Discovery, Inc. (NASDAQ: WBD) 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.

This release was published on openPR.