OHIO PUBLIC EMPLOYEES v. DISCOVERY, INC.

22-CV-8171 (VEC).

715 F.Supp.3d 483 (2024)

OHIO PUBLIC EMPLOYEES RETIREMENT SYSTEM and the State Teachers Retirement System of Ohio, Individually and on Behalf of All Others Similarly Situated, Plaintiffs, v. DISCOVERY, INC., Warner Bros. Discovery, Inc., David Zaslav, Gunnar Wiedenfels, Advance/Newhouse Partnership, Advance/Newhouse Programming Partnership, Steven A. Miron, Robert J. Miron, and Steven O. Newhouse, Defendants.

United States District Court, S.D. New York.

Signed February 5, 2024.


Attorney(s) appearing for the Case

Caitlin M. Moyna, Lauren Jane Salamon, Cecilia Eugenie Stein, Daniel Lawrence Berger, Grant & Eisenhofer P.A., New York, NY, for Plaintiff Ohio Public Employees Retirement System.

Daniel Lawrence Berger, Grant & Eisenhofer P.A., New York, NY, for Plaintiff State Teachers Retirement System of Ohio.

Robert Craig Finkel, Wolf Popper LLP, New York, NY, for Plaintiff Collinsville Police Pension Board on behalf of the Collinsville Police Pension Fund.

James Michael LoPiano, Jeremy Alan Lieberman, Joseph Alexander Hood, II, Pomerantz LLP, New York, NY, for Plaintiffs Tome Todorovski, Violeta Todorovski.

Caroline Zalka, Jonathan D. Polkes, Nicole Elizabeth Prunetti, Weil, Gotshal & Manges LLP, New York, NY, Joshua Morgan Wesneski, Weil, Gotshal & Manges LLP, Washington, DC, for Defendants Discovery, Inc., Warner Bros. Discovery, Inc., David Zaslav, Gunnar Wiedenfels.

Alexia Dorothea Korberg, Jaren Elizabeth Janghorbani, Paul Andrew Paterson, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY, Kamil Ramzi Ammari, DOJ-USAO, Brooklyn, NY, for Defendants Advance/Newhouse Partnership, Advance/Newhouse Programming Partnership, Steven A. Miron, Robert J. Miron, Steven O. Newhouse.


OPINION & ORDER

Plaintiffs in this putative securities class action allege that there were false and misleading statements in the offering materials that preceded the merger transaction (the "Merger" or the "Transaction") from which Warner Bros. Discovery, Inc. ("WBD" or the "Merged Company...

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