A lawsuit was filed on behalf of investors in DISH Network Corporation (NASDAQ:DISH) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 04/11/2023 -- An investor, who purchased shares of DISH Network Corporation (NASDAQ: DISH), filed a lawsuit over alleged violations of Federal Securities Laws by DISH Network Corporation.
Investors who purchased shares of DISH Network Corporation (NASDAQ: DISH) have certain options and for certain investors are short and strict deadlines running. Deadline: May 22, 2023. NASDAQ: DISH investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Englewood, CO based DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. DISH Network Corporation offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
On February 24, 2023, DISH Network Corporation announced that a "network outage" caused the Company's websites and apps to cease functioning, subjected customers to authentication issues when signing into TV channel apps using their Dish credentials and appeared to render the Company's call center phone numbers unreachable.
Then, on February 28, 2023, DISH Network Corporation confirmed that it had "determined that the outage was due to a cyber-security incident and notified appropriate law enforcement authorities," adding that the "threat agent" behind the ransomware attack stole date from Dish's compromised systems, potentially containing personal information.
The plaintiff claims that between February 22, 2021 and February 27, 2023, the Defendants made false and/or misleading statements and/or failed to disclose that: the Company overstated its operational efficiency and maintained a deficient cybersecurity and information technology infrastructure, that as a result of the foregoing, the Company was unable to properly secure customer data, leaving it vulnerable to access by malicious third parties, that the foregoing cybersecurity deficiencies also both rendered Dish's operations susceptible to widespread service outages and hindered the Company's ability to respond to such outages, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of DISH Network Corporation (NASDAQ: DISH) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.