NEW YORK, May 16, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of AT&T Inc. (: T) shareholders who: (a) acquired AT&T common stock pursuant or traceable to the SEC Form S-4 registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with AT&T’s June 2018 acquisition of and merger with Time Warner, Inc. (the “Acquisition”); and/or (b) purchased or otherwise acquired AT&T securities between October 22, 2016 and October 24, 2018, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for AT&T investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than May 31, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation http://zhanginvestorlaw.com/join-action-form/?slug=att-inc&id=1813 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email [email protected], [email protected] for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) AT&T had substantially increased prices, while at the same time discontinuing promotional discounts for its DirecTV Now service; (2) as a result, DirecTV Now subscribers were leaving (i.e., not renewing) as soon as their promotional discount periods expired, while at the same time new potential DirecTV Now customers were unwilling to pay the higher prices and therefore not subscribing at all; and (3) as a result, AT&T’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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