NEW YORK, June 20, 2023 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of The Walt Disney Company (NYSE: DIS) alleging that the Company violated federal securities laws.
Class Period: December 10, 2020 to November 8, 2022
Lead Plaintiff Deadline: July 11, 2023
No obligation or cost to you.
Learn more about your recoverable losses in DIS:
https://www.kleinstocklaw.com/pslra-1/disney-lawsuit-loss-submission-form?id=41007&from=4
The Walt Disney Company NEWS - DIS NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that The Walt Disney Company made materially false and/or misleading statements and/or failed to disclose that: (a) Disney+ was suffering decelerating subscriber growth, losses, and cost overruns; (b) the true costs incurred in connection with Disney+ had been concealed by Disney executives by debuting certain content intended for Disney+ initially on Disney's legacy distribution channels and then making the shows available on Disney+ thereafter in order to improperly shift costs out of the Disney+ segment; (c) Disney Media and Entertainment Distribution had made platform distribution decisions based not on consumer preference, consumer behavior, or the desire to maximize the size of the audience for the content as represented, but based on the desire to hide the full costs of building Disney+'s content library; (d) the Company was not on track to achieve its 2024 Disney+ paid global subscriber and profitability targets, that such targets were not achievable, and that such estimates lacked a reasonable basis in fact; and (e) as a result of (a)-(d) above, defendants had materially misrepresented the actual performance of Disney+, the sustainability of Disney+'s historical growth trends, the profitability of Disney+, and the likelihood that Disney could achieve its 2024 Disney+ subscriber and profitability targets.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Disney you have until July 11, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Disney securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the DIS lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/disney-lawsuit-loss-submission-form?id=41007&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
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SOURCE The Klein Law Firm
