NEW
YORK, June 28, 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=41369&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 5, 2023
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/tds-loss-submission-form/?id=41369&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 5, 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