{"id":755436,"date":"2023-05-04T19:50:55","date_gmt":"2023-05-04T23:50:55","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-telephone-and-data-systems-inc-tds-tds-pv-tds-pu\/"},"modified":"2023-05-04T19:50:55","modified_gmt":"2023-05-04T23:50:55","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-telephone-and-data-systems-inc-tds-tds-pv-tds-pu","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-telephone-and-data-systems-inc-tds-tds-pv-tds-pu\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Telephone and Data Systems, Inc. (TDS, TDS-PV, TDS-PU)"},"content":{"rendered":"
\n

NEW YORK, May 04, 2023 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased the securities of Telephone and Data Systems, Inc. (\u201cTelephone and Data Systems\u201d or the \u201cCompany\u201d) (NYSE: TDS, TDS-PV, TDS-PU) between May 6, 2022 and November 3, 2022, both dates inclusive (the \u201cClass Period\u201d).<\/p>\n

According to the complaint, United States Cellular (\u201cUSCellular\u201d) operates as a majority-owned subsidiary of Telephone and Data Systems. Throughout the Class Period, USCellular battled a systematic loss of \u201cpostpaid\u201d customers. In response, Defendants touted USCellular\u2019s purported ability to address postpaid customer \u201cchurn\u201d and attrition via tailored promotions and purported expense discipline. Notwithstanding, USCellular\u2019s churn rate continued to worsen and the Company\u2019s promotional activity decimated its profitability.<\/p>\n

On November 4, 2022, Defendants reported operating results for the third quarter of 2022. Defendants\u2019 corrective disclosures revealed that not only was USCellular\u2019s heavy promotional activity still failing to correct postpaid churn rate, but that the \u201coffer structure\u201d and its lack of \u201cexpense discipline\u201d had, in fact, substantially eroded the Company\u2019s profitability.<\/p>\n

On this news, the price of Telephone and Data Systems securities plummeted. Telephone and Data Systems\u2019 common stock price declined $4.29 per share (more than 25%), from a closing price of $16.57 per share on November 3, 2022, to a close of $12.28 on November 4, 2022.<\/p>\n

Investors who purchased or otherwise acquired shares of Telephone and Data Systems should contact the Firm prior to the July 3, 2023 <\/em><\/strong>lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n


\n
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<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, May 04, 2023 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased the securities of Telephone and Data Systems, Inc. (\u201cTelephone and Data Systems\u201d or the \u201cCompany\u201d) (NYSE: TDS, TDS-PV, TDS-PU) between May 6, 2022 and November 3, 2022, both dates inclusive (the \u201cClass Period\u201d). According to the complaint, United States Cellular (\u201cUSCellular\u201d) operates as a majority-owned subsidiary of Telephone and Data Systems. Throughout the Class Period, USCellular battled a systematic loss of \u201cpostpaid\u201d customers. In response, Defendants touted USCellular\u2019s purported ability to address postpaid customer \u201cchurn\u201d and attrition … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Telephone and Data Systems, Inc. (TDS, TDS-PV, TDS-PU)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-755436","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Telephone and Data Systems, Inc. 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