INVESTIGATION ALERT: The Gross Law Firm Notifies Shareholders of United States Cellular Corporation of an Investigation and Potential Class Action Lawsuit - (NYSE: USM)
NEW YORK, May 3, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of United States Cellular Corporation:
After market closed on November 3, 2022, UScellular announced results for the third fiscal quarter ended September 30, 2022, including that service revenues totaled $781 million, versus $788 million for the same period in the previous year, and that net income (loss) attributable to UScellular shareholders and related diluted earnings (loss) per share were $(12) million and $(0.15), respectively, for the third quarter of 2022 compared to $34 million and $0.38, respectively, for the third quarter of 2021. UScellular also announced that it was reducing the Company's fiscal year 2022 outlook, such that the upper bounds for the ranges of fiscal 2022 guidance concerning service revenues, adjusted OIBDA, and adjusted EBITDA were lowered by $50 million, $75 million, and $75 million, respectively.
Following this news, UScellular's stock price fell more than 22%, declining from a closing price of $31.05 per share on November 3, 2022 to a close of $24.09 on November 4, 2022.
Due to the forgoing, The Gross Law Firm is investigating potential securities fraud claims on behalf of certain UScellular investors. If you incurred a loss on your UMC investment, please contact us using the link below to discuss your rights.
https://securitiesclasslaw.com/securities/uscellular-loss-submission-form/?from=4
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
SOURCE The Gross Law Firm
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