The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Sprint Corporation ("Sprint") (NYSE: S) securities between January 31, 2019 and April 16, 2019.
The complaint alleges that Sprint made materially false and misleading statements and/or failed to disclose material information. In particular, the complaint alleges that throughout the class period Sprint misrepresented the number of net postpaid subscriber additions in its Form 10-Q for the period ending December 31, 2018. Sprint would later admit that the data was “incomplete,” and “not a substitute for a realistic analysis of the key factors that are most probative of Sprint’s overall competitive position and prospects,” because “postpaid net additions recently have been driven by ‘free lines’ offered to Sprint customers and the inclusion of less valuable tablet and other non-phone devices, as well as pre to post migrations that do not represent ‘new’ Sprint customers.”
If you purchased Sprint stock during the class period have until June 21, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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