The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in Telephone and Data Systems, Inc. (NYSE:TDS) shares. Investors in NYSE: TDS shares should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
SAN DIEGO, CA / ACCESS Newswire / January 21, 2025 / The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in Telephone and Data Systems, Inc. (NYSE:TDS) shares.
Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554
Investors who purchased shares of Telephone and Data Systems, Inc. (NYSE: TDS) prior to May 2022 and continue to hold any of those NYSE: TDS shares also have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
On May 2, 2023, an investor in NYSE: TDS shares filed a lawsuit over alleged securities laws violations by Telephone and Data Systems, Inc. The plaintiff alleged that Telephone and Data Systems, Inc. and its subsidiary, United States Cellular Corporation ("UScellular"), made materially false and/or misleading statements and/or failed to disclose that Defendants had no reason to believe UScellular’s "free upgrade" promotional activity, which was tested and trialed during the second quarter of 2022, was effective at reducing the UScellular’s postpaid churn rate as they represented to investors, as opposed to merely adding new postpaid subscribers, when its churn rate was actually increasing or remaining constant over most quarters between May 6, 2022 and November 3, 2022, that UScellular was not making progress with respect to its churn rate, as it represented to investors, that UScellular was not in fact balancing its promotional activity and its profitability, that due to extreme competition among postpaid carriers, UScellular did not have the flexibility to offset the costs from widespread, expensive promotions with price increases, and that as a result of the Companies’ decision for UScellular to continue engaging in heavy promotions to address its postpaid subscriber churn rate despite any lack of positive impact on churn rate, UScellular’s profitability substantially declined.
On September 1, 2023, an amended complaint was filed and on October 16, 2023, the defendants filed a motion to dismiss the amended complaint.
On November 01, 2024, the court issued an order granting in part and denying in part defendants’ motion to dismiss.
Those who purchased shares of Telephone and Data Systems, Inc. (NYSE: TDS) should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.
View the original press release on ACCESS Newswire
COMTEX_462059265/2457/2025-01-21T09:46:29