Investors can contact the law firm at no cost to learn more about recovering their losses​

LOS ANGELES, June 16, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises John Wiley & Sons, Inc. (“Wiley” or “the Company”) (NYSE: WLY) investors that the law firm has initiated an investigation on behalf of investors that lost money on their Wiley stock. Wiley investors are encouraged to contact the firm to discuss their legal rights.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

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.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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