NEW
YORK, May 10, 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
View original
content:https://www.prnewswire.com/news-releases/investigation-alert-the-gross-law-firm-notifies-shareholders-of-united-states-cellular-corporation-of-an-investigation-and-potential-class-action-lawsuit--nyse-usm-301815620.html
SOURCE The Gross Law Firm