NEW YORK, Nov. 17, 2022 (GLOBE NEWSWIRE) --

Warner Bros. Discovery, Inc. (NASDAQ: WBD)

Lifshitz Law PLLC announces that a class action complaint was filed on behalf of shareholders of Warner Bros. alleging that Defendants made materially false and misleading statements and omitted material facts in the Registration Statement and Prospectus for Warner Bros. common stock. Among other things, as subsequently disclosed by Defendants after the Merger, the Complaint alleges: (i) WarnerMedia's HBO Max streaming business had a high churn rate that made the business not "viable" unless the churn rate was reversed, (ii) AT&T was overinvesting in WarnerMedia entertainment content for streaming, without sufficient concern for return on investments, (iii) WarnerMedia had a business model to grow the number of subscribers to its streaming service without regard to cost or profitability, (iv) WarnerMedia was improvidently concentrating its investments in streaming and ignoring its other business lines, and (v) WarnerMedia had overstated the number of subscribers to HBO Max by as many as 10 million subscribers, by including as subscribers AT&T customers who had received bundled access to HBO Max, but had not signed onto the service. As a result, the Complaint alleges, the Registration Statement and Prospectus and certain of the Defendants' other public statements, contained untrue statements of material fact or omitted to state material facts required to be stated therein or necessary to make the statements therein not misleading, in violation of Sections 11 and 12(a)(2) of the Securities Act.

If you are a Warner Bros. investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or email at [email protected].

Olo Inc. (NYSE: OLO)

Lifshitz Law PLLC announces that a class action complaint was filed on behalf of shareholders of Olo alleging that Defendants misled investors and/or failed to disclose that (i) Subway was ending its contract with Olo; (ii) Olo’s key business metric “active locations” could not continue to grow as Defendants touted due to the loss of Subway’s business; and (iii) that, as a result of the above, Defendants’ statements about Olo’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

If you are an Olo investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or email at [email protected].

PayPal Holdings, Inc. (NASDAQ: PYPL)

Lifshitz Law PLLC announces that a class action complaint was filed on behalf of shareholders of PayPal alleging that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants misled investors and/or failed to disclose that: (i) Defendants had inflated its vitally important Net New Active Accounts (NNAs) metric guidance through an usually large use of marketing campaigns that were easily susceptible to fraud; i.e. the creation of millions of illegitimate accounts which were created for the sole purpose of taking advantage of cash incentives for account creation; (ii) Defendants used these marketing campaigns and other incentives to hide the Company’s true churn rate and declining levels of engagement with the platform; (iii) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and /or lacked a reasonable basis at all relevant times.

If you are a PayPal investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or email at [email protected].

Opendoor Technologies, Inc. (NASDAQ: OPEN)

Lifshitz Law PLLC announces that a class action complaint was filed on behalf of shareholders of Opendoor alleging that Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Complaint alleges the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (i) the algorithm used by the Company to make offers for homes could not accurately adjust to changing house prices across different market conditions and economic cycles; (ii) as a result, the Company was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations; (iii) accordingly, Defendants overstated the purported benefits and competitive advantages of the Algorithm; and (iv) as a result, the Offering Documents and Defendants’ public statements throughout the Relevant Period were materially false and/or misleading and failed to state information required to be stated therein.

If you are an Opendoor investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or email at [email protected].

ATTORNEY ADVERTISING.© 2022 Lifshitz Law PLLC. The law firm responsible for this advertisement is Lifshitz Law PLLC, 1190 Broadway, Hewlett, New York 11557, Tel: (516)493-9780. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact:
Joshua M. Lifshitz, Esq.
Lifshitz Law PLLC
Phone: 516-493-9780
Facsimile: 516-280-7376
Email: [email protected]