NEW YORK, July 6, 2023 /PRNewswire/ — The Gross Law Firm issues the following notice to shareholders of The Walt Disney Company.
Shareholders who purchased shares of DIS during the class listed period are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
PERIOD CLASS: December 10, 2020 to November 8, 2022
ALLEGATIONS: The complaints alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) Disney+ was suffering from 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, the 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.
DEADLINE: July 11, 2023 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/the-walt-disney-company-loss-submission-form/?id=41675&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of DIS during the timeframe listed above, you will be enrolled in a portfolio of monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is July 11, 2023. There is no cost or obligation for you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incur losses when false and/or misleading statements or the omission of material information by a company leads to artificial inflation of the company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.
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Phone: (646) 453-8903
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SOURCE The Gross Law Firm