Discovery, Inc.

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DISCOVERY MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE MERGER OF DISCOVERY, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – DISCA, DISCB, DISCK

May 18, 2021.

New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the merger of Discovery, Inc.’s (NASDAQ: DISCA, DISCB, DISCK) nonfiction and international entertainment and sports businesses and WarnerMedia’s entertainment, sports and news assets is fair to Discovery shareholders. Under the terms of the agreement, AT&T would receive $43 billion (subject to adjustment) in a combination of cash, debt securities, and WarnerMedia’s retention of certain debt, and AT&T’s shareholders would receive stock representing 71% of the new company; Discovery shareholders would own 29% of the new company.

The investigation concerns whether Discovery and its board violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Discovery shareholders; and (2) disclose all material information necessary for Discovery shareholders to adequately assess and value the merger consideration. On behalf of Discovery shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.

Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

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