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Investigation announced for Investors who purchased shares of United States Cellular Corporation (NYSE: USM)

04-25-2023 05:07 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in United States Cellular Corporation (NYSE: USM) shares over potential securities laws violations

An investigation for investors in United States Cellular Corporation (NYSE: USM) shares over potential securities laws violations

An investigation was announced over potential securities laws violations by United States Cellular Corporation in connection with certain financial statements.

Investors who purchased shares of United States Cellular Corporation (NYSE: USM), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on whether a series of statements by United States Cellular Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Chicago, IL based United States Cellular Corporation provides wireless telecommunications services in the United States. On November 3, 2022, United States Cellular Corporation 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 United States Cellular Corporation 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. United States Cellular Corporation 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.

Shares of United States Cellular Corporation (NYSE: USM) declined from $32 per share on November 02, 2022, to $19.89 per share on November 29, 2022.

Those who purchased shares of United States Cellular Corporation (NYSE: USM) 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.

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