According to the Complaint, defendants had begun opening kiosks in Target stores to sell wireless products and had entered into a relationship with Verizon Wireless, the largest wireless provider, to sell Verizon wireless products.
The Complaint alleges that defendants knew, but did not accurately and timely disclose during the Class Period, the devastating adverse impact this corporate strategy was having and would continue to have throughout the Class Period on RadioShack's net income. In an attempt to cover-up the true financial realities facing the company, Defendants repeatedly emphasized returning value to the Shareholders by funding the stock repurchase program and the solid dividends. Unfortunately, both of these avenues had to be abruptly halted when the Defendants recognized their business model was a failure and they needed to save cash.
On October 19, 2012, the Court issued an Order appointing lead plaintiff and approving the selection of lead counsel.
On November 27, 2012, the Court issued an Order transferring this case to the Northern District of Texas.
On December 17, 2012, the Court issued an Order consolidating cases. Member case 4:12-cv-884-A was consolidated with lead case 4:12-cv-883-A.
On January 3, 2013, the Court issued an Order dismissing this case without prejudice, as a result of a draft of a Notice of Voluntary Dismissal sent to the Court by the plaintiff. On the same date, the Court issued a Final Judgment.