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WLY.US
id: 977
John Wiley & Sons (WLY) Compromised Articles Case
- In June 2023, Wiley revealed a 6% revenue decrease after the suspension of the publishing program with subpar material.
- On it, $WLY fell 11.4%, losing $191+ of shareholder value.
- Investors may suspect that Wiley was hiding inadequate quality control of its publications.
On June 15, 2023, Wiley released its Q4 and fiscal year 2023 financial results, revealing that its Q4 revenue decreased 6%.
- This was due in part to the temporary suspension of Hindawi’s publishing program, where
- the Company identified as many as 1,700 articles with compromised and manipulated peer reviews and fabricated content.
On this news, $WLY fell 11.4% and lost over $191 million of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that Wiley and its executives failed to timely disclose the Company’s quality control setbacks, which consequently led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
15 June 2023