LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Telephone and Data Systems, Inc. (“TDS” or “the Company”) (NYSE: TDS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between May 6, 2022 and November 3, 2022, inclusive (the “Class Period”), are encouraged to contact the firm before July 3, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. TDS had no reason to believe that its UScellular subsidiary’s "free upgrade" would improve its churn rate of postpaid customers when in fact churn rate was remaining constant or even increasing throughout the class period. The Company failed to improve the customer churn rate despite its claims to investors. The Company failed to balance promotions and profitability. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about TDS, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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