CLASS ACTION UPDATE for DIS, PTON and DZSI: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / June 15, 2023 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

DIS Shareholders Click Here: https://zlk.com/pslra-1/disney-lawsuit-submission-form?prid=40929&wire=1
PTON Shareholders Click Here: https://zlk.com/pslra-1/peloton-lawsuit-submission-form?prid=40929&wire=1
DZSI Shareholders Click Here: https://zlk.com/pslra-1/dzs-lawsuit-submission-form?prid=40929&wire=1

* ADDITIONAL INFORMATION BELOW *

The Walt Disney Company (NYSE:DIS)

DIS Lawsuit on behalf of: investors who purchased December 10, 2020 - November 8, 2022
Lead Plaintiff Deadline: July 11, 2023
TO LEARN MORE, VISIT: https://zlk.com/pslra-1/disney-lawsuit-submission-form?prid=40929&wire=1

According to the filed complaint, during the class period, The Walt Disney Company made materially false and/or misleading statements and/or failed to disclose that: (a) Disney+ was suffering decelerating subscriber growth, losses, and cost overruns; (b) the true costs incurred in connection with Disney+ had been concealed by Disney executives by debuting certain content intended for Disney+ initially on Disney's legacy distribution channels and then making the shows available on Disney+ thereafter in order to improperly shift costs out of the Disney+ segment; (c) Disney Media and Entertainment Distribution had made platform distribution decisions based not on consumer preference, consumer behavior, or the desire to maximize the size of the audience for the content as represented, but based on the desire to hide the full costs of building Disney+'s content library; (d) the Company was not on track to achieve its 2024 Disney+ paid global subscriber and profitability targets, that such targets were not achievable, and that such estimates lacked a reasonable basis in fact; and (e) as a result of (a)-(d) above, defendants had materially misrepresented the actual performance of Disney+, the sustainability of Disney+'s historical growth trends, the profitability of Disney+, and the likelihood that Disney could achieve its 2024 Disney+ subscriber and profitability targets.

Peloton Interactive, Inc. (NASDAQ:PTON)

PTON Lawsuit on behalf of: investors who purchased May 10, 2022 - May 10, 2023
Lead Plaintiff Deadline: August 8, 2023
TO LEARN MORE, VISIT: https://zlk.com/pslra-1/peloton-lawsuit-submission-form?prid=40929&wire=1

According to the filed complaint, during the class period, Peloton Interactive, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the seat posts for certain of the Company's Peloton Bikes were prone to break or otherwise detach during use, rendering them unsafe for users; (ii) as a result, the Company was likely to recall millions of Peloton Bikes; (iii) accordingly, Peloton overstated its efforts to enhance the safety of its products, understated its estimated future returns, and downplayed the Company's need to book additional reserves for future product recall expenses; (iv) all the foregoing, once revealed, was likely to negatively impact the Company's business and financial results and reputation; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

DZS Inc. (NASDAQ:DZSI)

DZSI Lawsuit on behalf of: investors who purchased March 10, 2023 - May 31, 2023
Lead Plaintiff Deadline: August 14, 2023
TO LEARN MORE, VISIT: https://zlk.com/pslra-1/dzs-lawsuit-submission-form?prid=40929&wire=1

According to the filed complaint, during the class period, DZS Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) DZS' financial statements from March 31, 2023 to the present included certain errors; (2) as a result, DZS would need to restate its previously filed quarterly financial statement for the period ending March 31, 2023; (3) the Company had ongoing undisclosed issues with its internal controls over financial reporting; and (4) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, Suite #427
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

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