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LOS ANGELES, April 23, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Sprint Corporation (“Sprint” or “the Company”) (NYSE: S) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Sprint’s counsel responded to the FCC review of the Company’s proposed merger with T-Mobile US, Inc. on April 15, 2019. The Company attorney stated, “Sprint is in a very difficult situation that is only getting worse.” Following this letter, the Wall Street Journal published an article on April 17, 2019, titled “Sprint Tells Regulators Its Business Is Worse Than Earlier Portrayed.” Based on this news, Sprint traded down on April 17, 2019.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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