A shareholder sued Warner Bros. Discovery for misleading investors on the impact of losing its long-standing rights deal with the NBA.

Investors are calling foul over Warner Bros. Discovery's loss of its NBA media rights deal. A lawsuit filed this week in New York federal court alleges that shareholders suffered "significant losses and damages” over the company's inability to hold onto its NBA contract,

Warner Bros. Discovery and CEO David Zaslav were sued Monday by investors who experienced "significant losses and damages" caused by fallout from the studio's rights negotiations with the National Basketball Association.

The National Basketball Association and Warner Bros. Discovery have reached an agreement that will extend their long-standing media partnership an additional 11 years.

Warner Bros. Discovery will gain new digital and international NBA rights after the company and league settled a suit over the next NBA TV contract

Warners gets international games, while the NBA ends legal action and 'Inside the NBA' goes to ESPN and ABC. The NBA and Warner Bros. Discovery have unveiled their post-lawsuit settlement and the gains for both sides from renewing their agreement with an 11-year deal.

Warner Bros. Discovery sued the NBA in July, claiming the league failed to allow the media company to use its so-called matching rights on a package of live games.

Warner Bros. Discovery Inc. and top executives violated federal securities law by failing to disclose to investors the risks accompanying rights renewal negotiations with third-parties, including the NBA,

Warner Bros Discovery said on Monday it would have access to coveted National Basketball Association content for 11 more years under a legal settlement with the league, sending shares of the media company more than 5% higher.

Warner Bros. Discovery and the NBA have resolved their legal battle over broadcasting rights. While Warner Bros. Discovery will no longer air NBA games in the US, the company retains international and digital rights.