John Wiley & Sons, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
An investigation is currently focused on whether the Company made false and/or deceptive statements or neglected to reveal pertinent information to investors. Wiley disclosed its financial results for Q3 2023 on March 9, 2023, and during this announcement, it revealed issues within its subsidiary, Hindawi. According to the Company, “Our third quarter results and revised full year outlook have fallen significantly short of our expectations.” Additionally, they acknowledged challenges faced due to unpredictable market conditions and an unexpected publishing pause at Hindawi, stating, “While our core business and markets remain strong, we have encountered difficulties this year caused by unforeseen market headwinds and an unplanned interruption in publishing activities at Hindawi.”
The Company further explained, “Research revenue decreased by 4% as reported, or 2% at constant currency and excluding acquisitions, primarily due to the temporary suspension of Hindawi’s special issues publishing program. This pause was necessary because certain special issues contained compromised articles. Consequently, Hindawi experienced a $9 million decline in revenue compared to the previous year, offsetting growth in other open access publishing programs.” As a result of this news, Wiley’s shares experienced a decline of 17.35% on the same day.
