TDS INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Involving Possible Securities Fraud Violations Concerning Telephone and Data Systems, Inc.

New York, New York--(Newsfile Corp. - May 1, 2023) - Levi & Korsinsky notifies investors that it has commenced an investigation of Telephone and Data Systems, Inc. ("TDS" or the "Company") (NYSE: TDS) concerning possible violations of federal securities laws.

After market closed on November 3, 2022, TDS announced results for the third fiscal quarter ended September 30, 2022, including that net income (loss) attributable to TDS common shareholders and related diluted earnings (loss) per share were $(25) million and $(0.22), respectively, for the third quarter of 2022 compared to $28 million and $0.24, respectively, for the third quarter of 2021. TDS also announced that it was reducing the fiscal year 2022 outlook for its UScellular business segment, 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, the price for TDS common stock fell nearly 26%, declining from a closing price of $16.57 per share on November 3, 2022 to a close of $12.28 on November 4, 2022. To obtain additional information, go to:

https://zlk.com/pslra-1/tds-lawsuit-investigation-submission-form

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, Suite #427
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164228