LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against The Walt Disney Company (“Disney” or “the Company”) (NYSE: DIS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between December 10, 2020 and November 8, 2022, inclusive (the “Class Period”), are encouraged to contact the firm before July 11, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Disney’s steaming service, Disney+, suffered from cost overruns, slowing growth of its customer base, and mounting losses. The Company improperly shifted costs from Disney+ to other segments by moving shows initially intended for Disney+ to legacy distribution channels. Disney Media and Entertainment Distribution ("DMED") made business decisions not based on consumer interest or other normal business reasons, but instead to hide the cost of the Disney+ content library. The Company was not on track to hit even reduced performance targets for Disney+. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Disney, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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