It is much known that the case of the merger between HBO Max and Discovery Plus is still ongoing, this after reaching the decision to reduce costs and thus earn more money, even original productions were affected. And now, a lawsuit is presumed towards the company, which is the fruit of what seems to be a deception to the shareholders.
And it seems that, Warner Bros . He invented his Subscriber numbers of HBO Max up to 10 million, deceiving shareholders in a way that they are violating the Law of Securities to complete their fusion with Discovery . According to a collective claim that states that it could potentially represent hundreds of thousands of the affected people.
The incident was presented last Friday at New York on behalf of the Board of Pensions of the Collinsville Police , with a shareholder based in Illinois that he accepted in exchange for his common actions of Discovery Class C before merger. At the time of the Union, the shares were valued at $ 24.78 m; As of Tuesday, the shares were quoted just above $ 11 m.
It is worth commenting, that the Executive Director is appointed David Slav and the Financial Director Gunnar Wideness as the defendants in the case.
This is a fragment of what the demand says:
WarnerMedia was unexpectedly concentrating its transmission investments and ignoring their other business lines… and oversized the number of HBO Max subscribers in up to 10 million subscribers, including as subscribers to AT&T customers who had received a package of Access to HBO Max, but had not logged in the service.
For now, a jury trial is being sought for monetary damage, claiming three separate violations of the stock and values commission.