Paramount Reportedly Loses Bid To Fast-Track Warner Bros Suit: PSKY Stock Edges Lower
Synopsis
Delaware Chancery Court Judge Morgan Zurn did not find that Paramount’s request met the requirements for expediting the hearing.
Paramount Skydance Corp. (PSKY) on Thursday reportedly lost its bid to fast-track the suit filed against Warner Bros. Discovery Inc. (WBD).
According to a Bloomberg report, Delaware Chancery Court Judge Morgan Zurn did not find that Paramount’s request met the requirements for expediting the hearing.
Paramount sued Warner Bros. Discovery on Monday for information, alleging that the WBD board’s disclosures about the merger deal struck with Netflix Inc. (NFLX).
Paramount Skydance shares edged lower by 0.5% in Thursday morning’s trade, while Warner Bros. Discovery shares gained 0.7%. Retail sentiment on Stocktwits around PSKY trended in the ‘bearish’ territory, while users felt ‘extremely bearish’ about WBD.
Netflix shares were up 1% at the time of writing, with retail sentiment trending in the ‘extremely bullish’ territory on Stocktwits.
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