| 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:
This is a class action lawsuit on behalf of those who purchased or acquired The Walt Disney Company ("Disney") (NYSE: DIS) common stock between December 10, 2020 and May 10, 2023, 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 February 19, 2025, the Court entered an Order granting Defendants’ Motion to Dismiss the Consolidated Complaint as to Count Two against Iger with leave to amend that claim only; otherwise, the Motion was denied. Defendants filed their Answer to the Consolidated Complaint on March 5, 2025. On May 20, 2025, the Court dismissed Counts One and Three against Defendant Iger. This action is in the discovery phase and 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.