Warner Music shares fall 6.44% after-hours as lawsuit against Crumbl Cookies over copyright infringement sparks investor concerns.

Warner Music Group Corp (WMG) declined 6.44% in after-hours trading following the announcement of a $24 million copyright infringement lawsuit against Crumbl Cookies. The suit alleges unauthorized use of Warner Music's intellectual property on social media platforms, including TikTok and Instagram, raising concerns over potential financial liabilities and reputational risks. While a mid-day drop of 4.01% on Feb 3 may have reflected earlier market jitters, the after-hours sell-off was directly triggered by the lawsuit’s filing. Other news.