Link The WB Discovery faces a criminal prosecution in reprimand for the HBO XX and 3x series of overstating amounts to millions of dollars Free

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Warner Bros Discovery is accused of misleading shareholders about HBO Maxs subscription numbers.

In a report compiled by The Wrap, we learned that a lawsuit was filed last Friday in New York by the Collinsville Police Pension Board, an ill. shareholder of Warner Bros. Discovery, who claimed that WBD was lying about HBO Maxs Subscription numbers, and has demanded the jury trial for monetary damages.

WarnerMedia was unprovidently focusing its investments in streaming and ignore its other business lines [and] overstated the number of HBO Max subscribers by almost 10 million subscribers, whereas AT&T customers benefited, and not signed on for the service.

It also claims that AT&T, the previous owner of Warner Bros., overinvested in WarnerMedia entertainment content without worrying about a lack of risk for income. He claims that Warner Media had a business model for a growing subscriber number without regard to cost or profitability.

The lawsuit names WBD, David Zaslav and Gunnar Wiedenfels as the infractions.

This lawsuit is one of the many controversies that many major companies like Warner Bros. Discovery in this year have filed. The studio cancelled the upcoming Batgirl movie and a sequel to Scoob!, both apparently in post-production so that they could be tax-canceled.

HBO Max then deleted several exclusive shows and films, so that not to pay creators residuals (particularly animated films). In the past 40 days, WBD saw several layoffs as it tried to go out of debt.