Company: WBD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437107-25-000096
Chunk: 143

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 143
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(a), 10(b), and 21D of the Exchange Act. On January 21, 2025, the court consolidated the four actions for all purposes under Case No. 1:24-cv-09856-AT, captioned as In re Warner Bros. Discovery, Inc. Derivative Litigation (the “Consolidated Derivative Action”). On February 19, 2025, the Court stayed the Consolidated Derivative Action pending resolution of a final decision on all motions to dismiss the operative complaint in the Collura securities action.

District of Delaware Derivative Action. On February 20, 2025, a fifth shareholder derivative complaint was filed in the United States District Court for Delaware (Harloff v. Zaslav, No. 1:25-cv-00207-JLH). The complaint named certain current and former directors and officers of WBD as defendants and named WBD as nominal defendant. The complaint asserted claims for breaches of fiduciary duty, unjust enrichment, abuse of control, and gross mismanagement, based on the same facts alleged in the Collura securities case described above in addition to violations of Sections 14(a), 10(b), and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder, and sought damages and other relief. On March 13, 2025, the court denied the parties’ joint request to stay the proceedings pending resolution of the Collura securities class action and ordered the plaintiff to show cause as to why the case should not be dismissed for failure to state a claim over which the court has original jurisdiction. On March 31, 2025, the plaintiff filed a notice of voluntary dismissal, which the court so-ordered on April 2, 2025.

ITEM 1A. Risk Factors

Investors should carefully review and consider the information regarding certain factors that could materially affect our business, results of operations, financial condition, and cash flows as set forth under Part I, Item 1A “Risk Factors” of the Company’s 2024 Form 10-K. Additional risks and uncertainties not presently known to us or that we currently believe not to be material may also adversely impact our business, results of operations, financial position, and cash flows.

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ITEM 5. Other Information

Disclosure of Trading Arrangements

Item 408(a) of Regulation S-K requires the Company to disclose whether any director or officer of the Company has adopted or terminated (i) any