NEW
YORK, May 5, 2023 /PRNewswire/ -- Jakubowitz Law
announces that an investigation into potential securities fraud
allegations has commenced on behalf of shareholders of United
States Cellular Corporation (NYSE:USM).
To be contacted by a member of our team, fill out the
form:
https://claimyourloss.com/securities/uscellular-class-action-loss-submission-form/?from=4
Further details on the investigation: 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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law