STEVENSON, Md., May 01, 2019 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced on behalf of purchasers of AT&T Inc. (NYSE: T) (“AT&T” or the “Company”) 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”). Investors who wish to become proactively involved in the litigation have until May 31, 2019 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in AT&T securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the federal securities laws by virtue of the defendants’ failure to disclose in connection with AT&T’s June 2018 acquisition of and merger with Time Warner, Inc. (the “Acquisition”) and during the Class Period that AT&T had substantially increased prices, while at the same time discontinuing promotional discounts for its DirecTV Now service and DirecTV Now subscribers were leaving 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 not subscribing at all.
According to the complaint, following an October 24, 2018 announcement of a reversal of its reported total subscriber “Net Additions” trends, the value of AT&T shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in AT&T securities purchased on or after October 22, 2016 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You do not need to take any action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com