PHILADELPHIA, Jan. 31, 2025 (GLOBE NEWSWIRE) -- A federal court has determined that multiple statements made by Telephone and Data Systems, Inc. (NYSE: TDS) officers of were likely made with an intent to deceive the investing public, and therefore a securities fraud class action complaint against Telephone and Data Systems, Inc. and certain of its officers has survived defendants’ motion to dismiss that complaint.
If you have continuously held TDS shares since prior to May 6, 2022, you may be entitled to seek corporate reforms, the return of funds back to the company, and financial recovery, at no cost to you whatsoever. Visit: https://grabarlaw.com/the-latest/tds-uscellular-shareholder-investigation/, email jgrabar@grabarlaw.com or call Joshua Grabar at 267-507-6085 to learn more.
Grabar Law Office is investigating potential breaches of fiduciary duty by certain officers and directors of Telephone and Data Systems, Inc. and its subsidiary, UScellular.
WHY? An underlying securities fraud class action complaint has survived TDS’s attempts to dismiss the class action complaint. The class action complaint alleges that TDS and its subsidiary, UScellular, via certain of its officers and directors, made materially false and/or misleading statements and/or failed to disclose that: (i) TDS 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 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.
Current TDS shareholders who have continuously held TDS shares since prior to May 6, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever - ever.
If you would like to learn more about this matter at no cost to you, you are encouraged to visit https://grabarlaw.com/the-latest/tds-uscellular-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com, or Mia R. Heller at mheller@grabarlaw.com, or call 267-507-6085.
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
