How long until FI catches a lawsuit?
https://www.thegatewaypundit.com/2023/08/disney-slapped-lawsuit-allegedly-misleading-investors-billion-dollar/
According to Forbes, the lawsuit alleged Disney executives “repeatedly misled investors” about the company’s losses and that these “wrongful acts and omissions” brought about the “precipitous decline in the market value” of Disney’s share price.
Among their complaints is that the company’s executives, including former CEO Bob Chapek, his right-hand Kareem Daniel and former CFO Christine McCarthy, used promotional deals to boost subscriber numbers and incurred “staggering costs” in the process, the Hollywood Reporter noted.
“The company also reported a decline in its average revenue per Disney+ subscriber, as more customers subscribed through a discounted bundle with the company’s other services,” the complaint said.
“Notably, the bundled offering made up about 40 percent of domestic subscribers, confirming that Disney was relying on short-term promotional efforts to boost subscriber growth while impairing the platform’s long-term profitability.”