NEW YORK, NY / ACCESSWIRE / August 9, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Warner Bros. Discovery, Inc. ("Warner Bros. Discovery") (NASDAQ:WBD) concerning possible violations of federal securities laws.
Warner Bros. Discovery released its second quarter 2024 financial results on August 7, 2024. The Company reported a $9.1 billion impairment charge from its Networks division. According to the Company, the impairment is in "response to the difference between market capitalization and book value, continued softness in the U.S. linear advertising market, and uncertainty related to affiliate and sports rights renewals, including the NBA."
Following this news, shares of Warner Bros. Discovery fell over 9% in after hours trading on the same day. To obtain additional information, go to:
https://zlk.com/pslra-1/warner-bros-discovery-lawsuit-submission-form?prid=94808&wire=1
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP