July 31, 2020 - An amended complaint was filed.

April 22, 2019 - An investor in shares of Sprint Corporation (NYSE: S) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Sprint Corporation in connection with certain allegedly false and misleading statements made between January 31, 2019 and April 16, 2019.

Overland Park, KS based Sprint Corporation, together with its subsidiaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands.

On April 15, 2019, Sprint Corporation responded to the Federal Communications Commission (“FCC”) review of the Company’s proposed merger with T-Mobile US Inc., stating that “Sprint is in a very difficult situation that is only getting worse.” Then, on April 17, 2019, an article was published stating that Sprint “has touted adding new wireless connections for six straight quarters[, but] many of those gains were free lines or existing customers that switched services.” Shares of Sprint Corporation (NYSE: S) declined from $6.50 per share on March 18, 2019 to as low as $5.49 per share on April 24, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Sprint Corporation (NYSE: S) common shares between January 31, 2019 and April 16, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between January 31, 2019 and April 16, 2019, the defendants failed to disclose to investors, that the Company’s reported number of net postpaid subscriber additions was incomplete, that this increase in postpaid subscribed additions was driven by “free lines” offered to existing customers, and that as a result, the Company's public statements were materially false and misleading at all relevant times.