The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of John Wiley & Sons, Inc. (“Wiley” or “the Company”) (NYSE: WLY) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Wiley announced its Q3 2023 financial results on March 9, 2023, as part of which it disclosed problems at its subsidiary, Hindawi. According to the Company, “Our third quarter results and revised full year outlook are clearly below our expectations” and “While our core business and markets are strong, we’ve been challenged this year by unpredictable market headwinds and an unplanned publishing pause at Hindawi.” The Company added, “Research was down 4% as reported, or down 2% at constant currency and excluding acquisitions, primarily due to a pause in the Hindawi special issues publishing program. The program was suspended temporarily due to the presence in certain special issues of compromised articles. As a result, Hindawi revenue declined $9 million vs. prior year, offsetting growth in other open access publishing programs.” Based on this news, shares of Wiley fell by 17.35% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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