NEW YORK, June 02, 2023 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Telephone and Data Systems, Inc. (NYSE: TDS) alleging that the Company violated federal securities laws.

Class Period: May 6, 2022 to November 3, 2022
Lead Plaintiff Deadline: July 3, 2023
No obligation or cost to you.

Learn more about your recoverable losses in TDS:
https://www.kleinstocklaw.com/pslra-1/tds-lawsuit-loss-submission-form?id=40200&from=3

Telephone and Data Systems, Inc. NEWS - TDS NEWS

CLASS ACTION CASE DETAILS: The filed complaint alleges that Telephone and Data Systems, Inc. made 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.

WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in TDS you have until July 3, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you purchased TDS securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the TDS lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/tds-lawsuit-loss-submission-form?id=40200&from=3.

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com