Investor Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Telephone and Data Systems, Inc. (TDS; TDSPrU; TDSPrV) Investors of Class Action and to Actively Participate

Investor Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Telephone and Data Systems, Inc. (TDS; TDSPrU; TDSPrV) Investors of Class Action and to Actively Participate

May 05, 2023 by PR Newswire

Key Facts

  • , /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Telephone and Data Systems, Inc. ("TDS" or the "Company") (NYSE: TDS, TDSPrU, TDSPrV) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired TDS securities between May 6, 2022 and November 3, 2022, both dates inclusive (the "Class Period").
  • The Complaint alleges that the Company and its subsidiary, United States Cellular Corporation ("UScellular"), made false and/or misleading statements and/or failed to disclose that: (1) 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 Company'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; (2) UScellular was not making progress with respect to its churn rate, as it represented to investors; (3) UScellular was not in fact balancing its promotional activity and its profitability; (4) 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 (5) 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.
  • If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/tds or you may contact Peretz Bronstein, Esq.
  • Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits.

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