A lawsuit was filed on behalf of investors in Sprint Corporation (NYSE: S) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 05/08/2019 -- An investor, who purchased shares of Sprint Corporation (NYSE: S), filed a lawsuit over alleged violations of Federal Securities Laws by Sprint Corporation in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Sprint Corporation (NYSE: S) have certain options and for certain investors are short and strict deadlines running. Deadline: June 21, 2019. NYSE: S investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Overland Park, KS based Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands.
On April 15, 2019, Sprint Corporation responded to the Federal Communications Commission ("FCC") review of the Company's proposed merger with T-Mobile US Inc., stating that "Sprint is in a very difficult situation that is only getting worse." Then, on April 17, 2019, an article was published stating that Sprint "has touted adding new wireless connections for six straight quarters[, but] many of those gains were free lines or existing customers that switched services." Shares of Sprint Corporation (NYSE: S) declined from $6.50 per share on March 18, 2019 to as low as $5.49 per share on April 24, 2019.
The plaintiff claims that between January 31, 2019 and April 16, 2019, the defendants failed to disclose to investors, that the Company's reported number of net postpaid subscriber additions was incomplete, that this increase in postpaid subscribed additions was driven by "free lines" offered to existing customers, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Sprint Corporation (NYSE: S) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
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.