NEW YORK, May 10, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Telephone and Data Systems, Inc. (“TDS” or the “Company”) (NYSE: TDS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether TDS and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.Â
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On November 4, 2022, TDS reports its financial and operating results for the third fiscal quarter of 2022. The Company disclosed that the heavy promotional activity of its majority-owned UScellular subsidiary, including its “free upgrade promotion”, had not only failed to correct postpaid churn rate, but had in fact substantially eroded the Company’s profitability.Â
On this news, TDS’s stock price fell $4.29 per share, or 25.89%, to close at $12.28 per share on November 4, 2022.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
