COMPANY |
The Walt Disney Company |
COURT |
United States District Court for the Central District of California |
CASE NUMBER |
23-cv-03661 |
JUDGE |
The Hon. Consuelo Bland Marshall |
CLASS PERIOD |
December 10, 2020 and November 8, 2022 |
SECURITY TYPE |
Common Stock |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired The Walt Disney Company ("Disney") (NYSE: DIS) common stock between December 10, 2020 and November 8, 2022, both dates inclusive (the “Class Period”).
During the Class Period, Defendants repeatedly misled investors about the success of the Disney+ platform by concealing the true costs of the platform, concealing the expense and difficulty of maintaining robust Disney+ subscriber growth, and claiming that the platform was on track to achieve profitability and 230- 260 million paid global subscribers by the end of fiscal year 2024.
Current Status of Case:
On December 21, 2023, Defendants filed a Motion to Dismiss which is currently being briefed by the parties. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.