John Wiley & Sons, Inc. (WLY)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of John Wiley & Sons, Inc. (“Wiley” or “the Company”) (NYSE: WLY). Investors who purchased Wiley securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Wiley has violated federal securities laws.
On March 9, 2023, Wiley announced its third quarter 2023 financial results, in which it disclosed issues at Hindawi, one of its subsidiaries. The Company’s Chief Executive Officer (“CEO”) stated “[o]ur third quarter results and revised full year outlook are clearly below our expectations” and “[w]hile 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 “[r]esearch 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 this news, Wiley’s Class A stock price fell $7.55 per share, or 17.35%, to close at $35.96 per share on March 9, 2023. Then, on October 10, 2023, Wiley announced that its CEO and President would be departing the Company, effective immediately. On this news, Wiley’s stock price fell $3.68, or 9.9%, to close at $30.95 per share on October 10, 2023.
If you are aware of any facts relating to this investigation or purchased Wiley securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
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