An investor in MetroPCS Communications, Inc. (PCS) has filed a lawsuit on behalf of purchasers of MetroPCS Communications Inc. (NYSE:PCS) common stock during the period between February 26, 2009 and November 4, 2009. Meanwhile an investigation on behalf of current long term shareholders in MetroPCS Communications, Inc. (Public, NYSE:PCS) concerning possible mismanagement was announced.

A MetroPCS Communications, Inc. (PCS) investor has filed a lawsuit in the United States District Court for the Northern District of Texas alleging that MetroPCS Communications Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between February 26, 2009 and November 4, 2009 a series of false and misleading statements and/or concealed material adverse facts regarding its business and prospects. Then, on November 5, 2009, before the market opened, MetroPCS Communications issued a press release announcing its third quarter 2009 financial results, reporting that its net additions were below expectations due to elevated churn and a deceleration in gross additions, and lowering its guidance for the year. In response to the lowered guidance, so the lawsuit, the price of MetroPCS Communications stock (PCS) fell $0.61 per share, or 9%, to close at $6.01 per share. MetroPCS Communications, Inc. reported in 2007 Total Revenue of $2.23573billion with a Net Income of $100.4million and in 2008 Total Revenue of $2.75152billion with a Net Income of $149.44million. Shares of MetroPCS Communications, Inc. (PCS) traded recently at $7.18 per share, down from its 52weekHigh of $18.98 per share, $21.73 per share in May 2008, and almost $40 per share in 2007.