![]() ![]() Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. The Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. The complaint alleges, in part, that TDS and its subsidiary, United States Cellular Corporation ("UScellular"), made 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.įor more information on the Telephone and Data Systems class action go to: Additional information about each case can be found at the link provided. Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. (NYSE: STEM), The Walt Disney Company (NYSE: DIS), and Charles River Laboratories International, Inc. NEW YORK, J(GLOBE NEWSWIRE) - Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Telephone and Data Systems, Inc. ![]()
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