USM NEWS: The Klein Law Firm Initiates an Investigation Involving Possible Securities Fraud Violations by Officers of United States Cellular Corporation

NEW YORK, May 16, 2023 /PRNewswire/ -- The Klein Law Firm announces that it is investigating allegations that United States Cellular Corporation ("UScellular") (NYSE: USM) violated federal securities laws.

CURRENT INVESTIGATION DETAILS: 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.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of USM investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/uscellular-lawsuit-loss-submission-form?from=4

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com

SOURCE The Klein Law Firm

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