Therefore, Warner Bros faces a class action lawsuit, which could potentially represent hundreds of thousands of plaintiffs.
The lawsuit against Warner Bros was filed last Friday in New York on behalf of the Collinsville Police Pension Board; although there are shareholders who preferred that their money be returned to them without incurring a legal act.
The court claim names Warner Bros, Discovery, CEO David Zaslav, as well as financial adviser Gunnar Wiedenfels as defendants.
Warner Bros makeup.
Warner Bros was unexpectedly concentrating its investments on streaming, overestimating HBO Max’s subscriber count by as much as 10 million and ignoring its other lines of business.
What Warner Bros did was include as subscribers AT&T customers who had received an HBO Max access package, but did not log into the service.
As a result of the makeup of the figures, AT&T had invested too much in the entertainment content for transmission on the platform, without worrying about the return on investment.
WarnerMedia had a business model to increase the number of subscribers to its streaming service without regard to cost or profitability.So the plaintiff pension fund suggested that anyone who bought Warner Bros stock on the open market after the merger is qualified to join the lawsuit.
Which could cost money, a lot of money, too much, as well as an audit to find out what happened to all that money that was received for productivity that never existed.
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