NEW
YORK, June 28, 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 period
listed are encouraged to contact the firm regarding possible lead
plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/the-walt-disney-company-loss-submission-form/?id=41374&from=4
CLASS PERIOD: December 10,
2020 to November 8, 2022
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued materially false and/or
misleading statements and/or failed to disclose that: (a) Disney+
was suffering 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, 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=41374&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 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 to
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 incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm