Sprint Corporation (NYSE: S) Investor Securities Class Action Lawsuit 04/22/2019

If you purchased a significant amount of shares of Sprint Corporation (NYSE: S) between January 31, 2019 and April 16, 2019, and / or if you purchased any NYSE: S shares prior to January 2019 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: June 21, 2019. NYSE: S investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Sprint
Case Name: 
Sprint Shareholder Class Action Lawsuit 04/22/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: S
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/22/2019
Class Period Begin: 
01/31/2019
Class Period End: 
04/16/2019
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
06/21/2019
Summary: 

An investor in shares of Sprint Corporation (NYSE: S) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Sprint Corporation in connection with certain allegedly false and misleading statements made between January 31, 2019 and April 16, 2019.

Overland Park, KS based Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands.

On April 15, 2019, Sprint Corporation 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, an article was published 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.” Shares of Sprint Corporation (NYSE: S) declined from $6.50 per share on March 18, 2019 to as low as $5.49 per share on April 24, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Sprint Corporation (NYSE: S) common shares between January 31, 2019 and April 16, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between January 31, 2019 and April 16, 2019, the defendants failed to disclose to investors, that the Company’s reported number of net postpaid subscriber additions was incomplete, that this increase in postpaid subscribed additions was driven by “free lines” offered to existing customers, and that as a result, the Company's public statements were materially false and misleading at all relevant times.