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TELEPHONE AND DATA SYSTEMS, INC.

(TDS)
  Report
Delayed Nyse  -  04:00:02 2023-05-31 pm EDT
6.680 USD   -1.76%
05:46aTds Alert : The Klein Law Firm Announces a Lead Plaintiff Deadline of July 3, 2023 in the Class Action Filed on Behalf of Telephone and Data Systems, Inc. Shareholders
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05/30Pomerantz Law Firm Investigates Claims On Behalf of Investors of Telephone and Data Systems, Inc. - TDS
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05/30Telephone And Data Systems, Inc. (nyse : TDS) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Telephone and Data Systems, Inc.
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Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Telephone and Data Systems, Inc. (TDS) Investors

05/11/2023 | 09:33am EDT

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Telephone and Data Systems, Inc. (“TDS” or the “Company”) (NYSE: TDS) securities between May 6, 2022 and November 3, 2022, inclusive (the “Class Period”). TDS investors have until July 3, 2023 to file a lead plaintiff motion.

Investors suffering losses on their TDS investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On November 4, 2022, TDS released its third quarter 2022 financial results, reporting that UScellular’s heavy promotional activity, including a free phone upgrade promotion, had failed to correct the Company’s postpaid churn rate and had substantially eroded the Company’s profitability.

On this news, TDS’s stock price fell $4.29, or 25.9%, to close at $12.28 per share on November 4, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) 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; (2) UScellular was not making progress with respect to its churn rate, as it represented to investors; (3) UScellular was not in fact balancing its promotional activity and its profitability; (4) due to extreme competition among postpaid carriers, UScellular did not have the flexibility to offset the costs from widespread, expensive promotions with price increases; (5) 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; and (6) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased TDS securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


ę Business Wire 2023
All news about TELEPHONE AND DATA SYSTEMS, INC.
05:46aTds Alert : The Klein Law Firm Announces a Lead Plaintiff Deadline of July 3, 2023 in the ..
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Analyst Recommendations on TELEPHONE AND DATA SYSTEMS, INC.
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Financials (USD)
Sales 2023 5 355 M - -
Net income 2023 -36,8 M - -
Net Debt 2023 4 779 M - -
P/E ratio 2023 -20,5x
Yield 2023 11,1%
Capitalization 752 M 752 M -
EV / Sales 2023 1,03x
EV / Sales 2024 1,13x
Nbr of Employees 9 300
Free-Float 74,4%
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Technical analysis trends TELEPHONE AND DATA SYSTEMS, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 6,68 $
Average target price 14,67 $
Spread / Average Target 120%
EPS Revisions
Managers and Directors
LeRoy T. Carlson President & Director
Vicki L. Villacrez Chief Financial Officer & Executive Vice President
Walter C. D. Carlson Non-Executive Chairman
Kurt B. Thaus Senior Vice President-Technology Services
Laurie A. Ruchti Chief Information Officer & VP-Strategy
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