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DIS.US
id: 723, Created by Stan Vick Chase, Scout

Join Walt Disney (DIS) Case on Misleading to Fight Losses!

  • Walt Disney reported financial results missing analyst estimates by wide margins.
  • $DIS declined over 13%.
  • Investors suspect Walt Disney and its Leaders of misleading and failing to disclose important information.
On November 8, 2022, Walt Disney (DIS) reported financial results for Q4 and full 2022, missing analyst estimates by wide margins on both the top and bottom lines.
  • Disney’s DTC segment reported a monumental operating loss of $1.47 billion compared to a $630 million loss in the same quarter the prior year while revenue in the segment increased just 8% to $4.9 billion.
  • Disney also reported a decline in its average revenue per Disney+ subscriber, as more customers subscribed through a discounted bundle with Disney’s other services.
  • Notably, the bundled offering made up about 40% of domestic subscribers, confirming that Disney was relying on short-term promotional efforts to boost subscriber growth while impairing Disney +’s long-term profitability.
On this news, the $DIS declined more than 13%, seriously damaging investors.

Taking all facts into account, Investors have reasons to suspect Walt Disney and its Leaders of misleading and failing to disclose that:
  1. Disney+ was suffering decelerating subscriber growth, losses, and cost overruns;
  2. 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;
  3. Disney 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; and
  4. 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 in fact.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08 November 2022
Case number
23-CV-03661
Filing date
12 May 2023
Class period Start
10 December 2020
Class period End
08 November 2022
Lead Plaintiff Deadline
11 July 2023
Court
Central District of California
Collecting participants…
Created by Stan Vick Chase, Scout

Case history

Stan Vick
19 May 2023
  1. Several affected $DIS Investors have already joined Case.
  2. Several reputable Law Firms have expressed interest to represent the Case vs. Walt Disney Co. in court.
  3. An initial Complaint was filed in the court of the Central District of California.
More affected investors are expected to join the Case and interested attorneys commit their support, further strengthening the Case.

Walt Disney Company

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. It operates through two segments, Disney Media and Entertainment Distribution; and Disney Pa...

    Ticker
    DIS.US
    ISIN
    US2546871060
    CIK
    1744489
    Sector
    Communication Services
    Industry
    Entertainment
    Country
    USA
    Address
    500 South Buena Vista Street, Burbank, CA, United States, 91521