TDS LAWSUIT ALERT: Levi & Korsinsky Notifies Telephone and Data Systems, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline

NEW YORK, June 22, 2023

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of TDS investors who were adversely affected by alleged securities fraud between May 6, 2022 and November 3, 2022. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/tds-lawsuit-investigation-submission-form?prid=41130&wire=4

TDS investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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'S NEXT? If you suffered a loss in TDS during the relevant time frame, you have until July 5, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.