Lawsuit filed for Investors who lost money with shares of DISH Network Corporation (NASDAQ: DISH)

An investor, who purchased shares of DISH Network Corporation (NASDAQ: DISH), filed a lawsuit over alleged violations of Federal Securities Laws by DISH Network Corporation.

Investors who purchased shares of DISH Network Corporation (NASDAQ: DISH) have certain options and for certain investors are short and strict deadlines running. Deadline: May 22, 2023. NASDAQ: DISH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Englewood, CO based DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. DISH Network Corporation offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.DISH Network Corporation reported that its annual Total Revenue declined from over $17.88 billion in 2021 to over $16.6 billion in 2022, and that its Net Income decreased from over $2.41 billion in 2021 to over $2.3 billion in 2022.
On February 24, 2023, DISH Network Corporation announced that a "network outage" caused the Company's websites and apps to cease functioning, subjected customers to authentication issues when signing into TV channel apps using their Dish credentials and appeared to render the Company's call center phone numbers unreachable.
Then, on February 28, 2023, DISH Network Corporation confirmed that it had "determined that the outage was due to a cyber-security incident and notified appropriate law enforcement authorities," adding that the "threat agent" behind the ransomware attack stole date from Dish's compromised systems, potentially containing personal information.

Shares of DISH Network Corporation (NASDAQ: DISH) declined from over $47 per share in May 2021 to as low as $8.43 per share on March 24, 2023.

The plaintiff claims that between February 22, 2021 and February 27, 2023, the Defendants made false and/or misleading statements and/or failed to disclose that: the Company overstated its operational efficiency and maintained a deficient cybersecurity and information technology infrastructure, that as a result of the foregoing, the Company was unable to properly secure customer data, leaving it vulnerable to access by malicious third parties, that the foregoing cybersecurity deficiencies also both rendered Dish's operations susceptible to widespread service outages and hindered the Company's ability to respond to such outages, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of DISH Network Corporation (NASDAQ: DISH) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.