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TeleCorp PCS, Inc. Summary: According to a Press Release dated December 14, 2001, the complaint alleges violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. On or about November 22, 1999, TeleCorp commenced an initial public offering of 9,200,000 of its shares of common stock at an offering price of $20 per share (the TeleCorp IPO). In connection therewith, TeleCorp filed a registration statement, which incorporated a prospectus (the Prospectus), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) the underwriters had solicited and received excessive and undisclosed commissions from certain investors in exchange for which the underwriters allocated to those investors material portions of the restricted number of TeleCorp shares issued in connection with the TeleCorp IPO; and (ii) the underwriters had entered into agreements with customers whereby the underwriters agreed to allocate TeleCorp shares to those customers in the TeleCorp IPO in exchange for which the customers agreed to purchase additional TeleCorp shares in the aftermarket at pre-determined prices.
INDUSTRY CLASSIFICATION:
SIC Code: 4812
Sector: Services
Industry: Communications Services
| COMPANY/ISSUER NAME: | TeleCorp PCS, Inc. |
| COMPANY/ISSUER TICKER: | TLCP |
| COMPANY WEBSITE: | http://www.telecorppcs.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| [Unknown Plaintiff], et al., v. TeleCorp PCS, Inc., et al. | |||||||||||||||||
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REFERENCE COMPLAINT | |||||||||||||||||
| In Re Telecorp PCS, Inc. Initial Public Offering Securities Litigation | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| Amended Class Action Complaint For Violations Of The Federal Securities Laws | |||
| Type: Complaint | Date on the document: 04/19/2002 | ||
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