TDS SHAREHOLDER ALERT: Jakubowitz Law Reminds TDS Shareholders of a Lead Plaintiff Deadline of July 5, 2023

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NEW YORK, June 28, 2023 (GLOBE NEWSWIRE) — Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Telephone and Data Systems, Inc. (NYSE: TDS).

To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/tds-class-action-loss-submission-form/?id=41396&from=3

The lawsuit seeks to recover losses for shareholders who purchased TDS between May 6, 2022 and November 3, 2022.

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Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 5, 2023 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

According to a filed complaint, Telephone and Data Systems, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) 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 in the class period; (ii) UScellular was not making progress with respect to its churn rate, as it represented to investors; (iii) UScellular was not in fact balancing its promotional activity and its profitability; (iv) 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 (v) 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887

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