An investigation on behalf of current long term investors in The Walt Disney Company (NYSE: DIS) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 09/05/2023 -- Certain directors of The Walt Disney Company are under investigation over potential breaches of fiduciary duties.
Investors who are current long term investors in The Walt Disney Company (NYSE: DIS) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: DIS stocks follows a lawsuit filed against The Walt Disney Company over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: DIS stocks, concerns whether certain The Walt Disney Company directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Disney+ was suffering decelerating subscriber growth, losses, and cost overruns, that 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 to improperly shift costs out of the Disney+ segment, that Disney Media and Entertainment Distribution ("DMED") 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, that Disney was not on track to achieve even the reduced 2024 Disney paid global subscriber and profitability targets, such targets were not achievable, and such estimates lacked a reasonable basis, and that 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.
Those who purchased shares of The Walt Disney Company (NYSE: DIS) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.