Two Ohio pension funds are suing Warner Bros. Discovery, saying the company misled investors and the pension systems suffered $25.5 million in losses.
Ohio's two largest public pension funds are suing Warner Bros. Discovery, claiming that the company leaders misled investors during its merger and the retirement systems suffered $25.5 million in losses.
The case, which is pending in U.S. District Court for the Southern District of New York, claims that company executives failed to disclose adverse financial information before the merger closed April 8. For example, the company overstated its HBO Max subscribers by as much as 10 million, the lawsuit says.
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