LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24S&src=ctag” target=”_blank”gt;$Slt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP (“GPM”), a national investors rights law
firm, announces that a class action lawsuit has been filed on behalf of
investors that acquired Sprint Corporation (“Sprint” or the “Company”)
(NYSE: S)
securities between January 31, 2019 and April 16, 2019, inclusive
(the “Class Period”). Sprint investors have until June 21, 2019 to
file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here
to participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.
On April 15, 2019, Sprint responded to the Federal Communications
Commission (“FCC”) review of the Company’s proposed merger with T-Mobile
US Inc., stating that “Sprint is in a very difficult situation that is
only getting worse.” Then, on April 17, 2019, The Wall Street
Journal published an article stating that Sprint “has touted adding
new wireless connections for six straight quarters[, but] many of those
gains were free lines or existing customers that switched services.”
On this news, the Company’s share price fell $0.37 per share, more than
6%, to close at $5.64 per share on April 17, 2019, on unusually heavy
trading volume.
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: (1) the Company’s reported
number of net postpaid subscriber additions was incomplete; (2) this
increase in postpaid subscribed additions was driven by “free lines”
offered to existing customers; and (3) as a result, the Company’s public
statements were materially false and misleading at all relevant times.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares of Sprint during the Class Period you may move
the Court no later than June 21, 2019 to ask the Court
to appoint you as lead plaintiff. To be a member of the Class you need
not take any action at this time; you may retain counsel of your choice
or take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to [email protected],
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
[email protected]
