San Diego, CA -- (SBWire) -- 11/03/2023 --An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at John Wiley & Sons, Inc.
Investors who purchased shares of John Wiley & Sons, Inc. (NYSE: WLY) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain John Wiley & Sons, Inc. officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Hoboken, NJ based John Wiley & Sons, Inc. operates as a research and education company worldwide.
On March 9, 2023, John Wiley & Sons, Inc. announced its Q3 2023 financial results, in which it disclosed issues at Hindawi, one of its subsidiaries. The Company's CEO stated "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." It was further announced that "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."
On June 15, 2023, John Wiley & Sons, Inc. announced its Q4 2023 financial results. John Wiley & Sons, Inc. reported that its annual Total Revenue declined from $2.08 billion for the 12 months period that ended on April 30, 2022 to $2.01 billion for the 12 months period that ended on April 30, 2023, and that its Net Income declined from $148.3 million to $17.23 million.
Shares of John Wiley & Sons, Inc. (NYSE: WLY) declined from $49.58 per share on February 03, 2023, to as low as $28.83 per share on October 18, 2023.
Those who purchased shares of John Wiley & Sons, Inc. (NYSE: WLY) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
John Wiley & Sons, Inc. (NYSE:WLY) Investor Alert: Investigation Concerning Possible Wrongdoing
An investigation on behalf of investors in John Wiley & Sons, Inc. (NYSE:WLY) shares over potential wrongdoing at John Wiley & Sons, Inc. was announced.