John Wiley & Sons, Inc.
|Company Name||John Wiley & Sons, Inc.|
On June 15, 2023, Wiley released its fourth quarter and fiscal year 2023 financial results, revealing that its fourth quarter revenue decreased 6%. The shortfall was due in part to the temporary suspension of Hindawi’s special issues publishing program after the Company identified as many as 1,700 articles with compromised and manipulated peer reviews and fabricated content.
On this news, Wiley’s stock price fell $4.17, or 11.4%, to close at $32.45 per share on June 15, 2023, thereby injuring investors.
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