Discovery Shareholders Win $125M Settlement Of Lawsuit Alleging AT&T Merger “Wasn’t Entirely Fair” To Most Investors
Reading now: 458
deadline.comWarner Bros. Discovery, which was formed in 2022 from the merger of AT&T’s WarnerMedia and Discovery Communications, has agreed to pay $125 million to settle a shareholder lawsuit over the deal.
A handful of pension funds filed suit in Delaware Chancery Court after the $43 billion merger closed, alleging that the transaction unfairly benefited top-tier investors at Discovery at the expense of everyday investors.
On Friday, the court released a document detailing the settlement, which had been agreed to in May at the recommendation of a mediator.
Once Delaware Chancery Judge Travis Laster approves the agreement, holders of Discovery stock prior to the merger closing date in April 2022 will be eligible to receive funds from the settlement.
Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
