John Wiley & Sons, Inc.

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Portnoy Law Firm
Lesley F. Portnoy, Esq.,
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067

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.