An investigation on behalf of current long term investors in Telephone and Data Systems, Inc. (NYSE:TDS) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 09/27/2023 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors of Telephone and Data Systems, Inc.
Investors who are current long term investors in Telephone and Data Systems, Inc. (NYSE: TDS) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: TDS stocks follows a lawsuit filed against Telephone and Data Systems, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: TDS stocks, concerns whether certain Telephone and Data Systems, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that Telephone and Data Systems, Inc. and its subsidiary, United States Cellular Corporation ("UScellular"), made materially false and/or misleading statements and/or failed to disclose that 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 UScellular'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 between May 6, 2022 and November 3, 2022, that UScellular was not making progress with respect to its churn rate, as it represented to investors, that UScellular was not in fact balancing its promotional activity and its profitability, that 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 that 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.
Those who purchased shares of Telephone and Data Systems, Inc. (NYSE: TDS) have certain options and should contact the Shareholders Foundation.
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