Sprint Corporation. The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Sprint Corporation (NYSE: S) who purchased securities between January 31, 2019 and April 16, 2019.
The filed complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose material information. In particular, it is alleged that throughout the class period Sprint misrepresented the number of net postpaid subscriber additions in its Form 10-Q for the period ending December 31, 2018. Sprint would later admit that the data was “incomplete,” and “not a substitute for a realistic analysis of the key factors that are most probative of Sprint’s overall competitive position and prospects,” because “postpaid net additions recently have been driven by ‘free lines’ offered to Sprint customers and the inclusion of less valuable tablet and other non-phone devices, as well as pre to post migrations that do not represent ‘new’ Sprint customers.”
“Sprint Corporation”
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until June 21, 2019 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
