Lawsuit Claims WBD Overstated HBO Max Subscribers

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Mark Jeffries

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Sep 29, 2022, 12:07:35 PM9/29/22

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A police pension board in downstate Illinois who received Warner Brothers Discovery stock in trade for Discovery Communications stock when the merger took place claims that WBD overstated HBO Max subscriber figures by over 10M by including AT&T phone subscribers who received the service for free, among other unstated irregularities, and is filing a class action suit against WBD, Daddy Zaslav and the company's CFO:

https://www.thewrap.com/warner-bros-discovery-hbo-max-subscribers-class-action-lawsuit/?utm_source=newsletter&utm_medium=email&utm_campaign=breaking_news_7027247

At the time merger, Discovery stock was trading at about $25 a share. Right now, WBD stock is at $11.66 a share.

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