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A shareholder has sued Warner Bros Discovery, the soon-to-be former home of the NBA, for violating securities law by misleading investors on the impact of losing its long-standing rights deal with the league. Richard Collura filed the suit in New York ...

Warner Bros. Discovery and CEO David Zaslav were sued Monday by investors who experienced "significant losses and damages" caused by fallout from the studio's rights negotiations with the National Basketball Association.

Warner Bros. Discovery just took care of a very visible issue that had disturbed the market. Find out why WBD stock is a Buy.

The general mood among these heavyweight investors is divided, with 60% leaning bullish and 40% bearish. Among these notable options, 7 are puts, totaling $506,409, and 3 are calls, amounting to $88,160.

Warner Bros. Discovery sued the NBA in July, claiming the league failed to allow the media company to use its so-called matching rights on a package of live games.

Warner Bros Discovery said on Monday it would have access to coveted National Basketball Association content for 11 more years under a legal settlement with the league, sending shares of the media company more than 5% higher.

Warner Bros. Discovery (WBD) is facing a class action lawsuit filed by investors who claim the media conglomerate misled them about the financial impact of losing its NBA broadcasting rights.

The lawsuit points to the company recording a $9.1 billion goodwill impairment charge related to the depreciation of its TV networks.