October 27, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Millicom International Cellular SA (USA) (OTCMKTS:MIICF) shares over potential securities laws violations by Millicom International Cellular SA and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Millicom International Cellular SA (USA) (OTCMKTS:MIICF) concerning whether a series of statements by Millicom International Cellular SA regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Millicom International Cellular SA reported that its annual Total Revenue rose from $4.39 billion in 2013 to over $6.38 billion in 2014 and that its Net Income increased from $229 million in 2013 to over $2.62 billion in 2014.

On October 22, 2015, it was reported that Millicom International Cellular SA had reported suspected improper payments at its Guatemalan business to law enforcement officials. The payments were made on behalf of the Companys join venture Comunicaciones Celulares SA, a mobile service provider.

Shares of Millicom International Cellular SA (USA) (OTCMKTS:MIICF) declined on October 22, 2015, to as low as $53.96 per share.