공시 • Jun 10
Levi & Korsinsky, LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Telephone and Data Systems, Inc
Levi & Korsinsky, LLP announced that the United States District Court for the Northern District of Illinois, Eastern Division has approved the following announcement of a proposed class action settlement that would benefit purchasers of Telephone and Data Systems, Inc. (‘TDS’) securities. Excluded from the Settlement Class are Defendants, TDS and United States Cellular Corporation (‘UScellular’) and their subsidiaries, affiliates, and respective officers and directors at all relevant times, and any of their immediate families, legal representatives, heirs, successors, or assigns, and any entity in which any Defendant has or had a controlling interest. Also excluded from the Settlement Class are all persons or entities who would otherwise be members of the Settlement Class, but who exclude themselves by validly and timely submitting a request for exclusion.YOU ARE HEREBY NOTIFIED, pursuant to Federal Rule of Civil Procedure 23 and an Order of the United States District Court for the Northern District of Illinois, that the Court-appointed Lead Plaintiff, Howard M. Rensin, Trustee Of The Rensin Joint Trust, on behalf of himself and all members of the Settlement Class, and TDS, UScellular, Laurent C. Therivel, and Douglas W. Chambers (collectively, ‘Defendants’), have reached a proposed settlement of the claims in the above-captioned class action (the ‘Action’) in the amount of $7,750,000.00 (the ‘Settlement’). Lead Plaintiff and Lead Counsel estimate that if all affected TDS shares elect to participate in the Settlement, the average recovery per share could be approximately $0.50 for TDS common stock, $0.11 for TDS Series UU preferred stock, and $0.10 for TDS Series VV preferred stock, before deduction of any fees, expenses, costs, and awards as described in the Notice of Pendency of Class Action and Proposed Settlement, Settlement Hearing, and Motion for Attorneys’ Fees and Reimbursement of Litigation Expenses (the ‘detailed Notice’).in exchange for the Settlement and the release of the Releasing Plaintiff’s Parties’ Claims against the Released Defendants’ Parties, Defendants have agreed to create a $7,750,000.00 cash fund, which may accrue interest, to be distributed, after deduction of Court-awarded attorneys’ fees and litigation expenses, Notice and Administration Expenses, Taxes, and any other fees or expenses approved by the Court (the ‘Net Settlement Fund’), among all Settlement Class Members who submit valid Claim Forms and are found to be eligible to receive a distribution from the Net Settlement Fund (‘Authorized Claimants’). A hearing will be held before the Honorable Mary M. Rowland on September 3, 2025, 2025 at 1:00 p.m., in Courtroom 1225 of the United States District Court for the Northern District of Illinois, Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, IL 60604 (the ‘Settlement Hearing’) to, among other things, consider whether: the Settlement is fair, reasonable, and adequate, and should be approved; the proposed plan for allocating the proceeds of the Settlement to Settlement Class Members (the ‘Plan of Allocation’) is fair and reasonable and should be approved; and Lead Counsel’s application for attorneys’ fees and reimbursement of litigation expenses, and any award to the Lead Plaintiff for his time and expenses in representing the interests of the Settlement Class, are reasonable and should be approved.