From Arkhaven Comics:
The Cockroaches Just Saw the Bathroom Light Come On
David Zaslav and the Warner Brothers Discovery CFO are being sued by the Collinsville Police Pension Board.
The press is all tickled about Zaslav being named in a lawsuit because he has nuked a number of Woke projects as part of a writedown package for the IRS.
This is actually a lot more important than it would appear on the face of it.
First of all, if you are a pension fund then you are looking for stocks that are low risk but are a good bet to go up in value, and you want them to pay dividends. The smart ones tend to be very conservative fiscally. They don’t take big risks. And they invest on the basis of due diligence research. These guys do go through all the documentation that the company provides.
Now granted these investment projections provided by the company in question are given to sunny optimism but there is a difference between that and fraud. If you cooked the books on the investor documentation, then you have committed fraud.
A pension fund is not some angry celebrity or SJW activist organization (generally). These organizations don’t sue over butt-hurt feelings. They sue over corporate malfeasance.
Here is the super important part: They are suing over the number of streamers that HBOmax claims it had when Discovery and Warner Brothers merged because originally the pension fund was invested in Discovery. Discovery was indeed a healthy company at the time the investment was made, it was marrying it to Warner Brothers that damaged the value.
Is Zaslav going to be hurt? Very doubtful from what I’ve been told. This was just a necessary first step in legally redirecting the investor’s ire to where it rightfully lay: AT&T.
Zaslav is waaay after the fact. It's AT&T and Warner that is going to be put on the hot spot. This will not get a lot of media coverage (guess why) but it is a very important suit for Western Culture. Discovery anyone?
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