NEW
YORK, May 24, 2023 /PRNewswire/ -- The
Gross Law Firm issues the following notice to shareholders of
Telephone and Data Systems, Inc..
Shareholders who purchased shares of TDS during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/tds-loss-submission-form/?id=39781&from=4
CLASS PERIOD: May 6, 2022 to November 3,
2022
ALLEGATIONS: The complaint alleges
that during the class period, Defendants issued materially false
and/or misleading statements and/or failed to disclose that: (i)
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 in the
class period; (ii) UScellular was not making progress with respect
to its churn rate, as it represented to investors; (iii) UScellular
was not in fact balancing its promotional activity and its
profitability; (iv) 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 (v) 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.
DEADLINE: July 3,
2023 Shareholders should not delay in
registering for this class action. Register your information here:
https://securitiesclasslaw.com/securities/tds-loss-submission-form/?id=39781&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you
register as a shareholder who purchased shares of TDS during the
timeframe listed above, you will be enrolled in a portfolio
monitoring software to provide you with status updates throughout
the lifecycle of the case. The deadline to seek to be a lead
plaintiff is July 3, 2023. There is
no cost or obligation to you to participate in this
case.
WHY GROSS LAW FIRM? The Gross Law Firm
is a nationally recognized class action law firm, and our mission
is to protect the rights of all investors who have suffered as a
result of deceit, fraud, and illegal business practices. The Gross
Law Firm is committed to ensuring that companies adhere to
responsible business practices and engage in good corporate
citizenship. The firm seeks recovery on behalf of investors who
incurred losses when false and/or misleading statements or the
omission of material information by a company lead to artificial
inflation of the company's stock. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY,
10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm