According to the Complaint, Sprint Corporation is a communications company offering a comprehensive range of wireless and wireline communications products and services that are designed to meet the needs of individual consumers, businesses, government subscribers and resellers.

The Complaint alleges that Sprint misrepresented the number of net postpaid subscriber additions in its Form 10-Q for the period ending December 31, 2018. In a subsequent letter to the FCC, Sprint admitted that its Form 10-Q disclosures were “incomplete” and that the reported net subscriber increase included those offered “free lines.”

This case was voluntarily dismissed on June 24, 2019. A related case continues under Docket 19-CV-05272.

On May 13, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. On July 31, Lead Plaintiff filed an amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on October 2. On March 25, 2022, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

The parties notified the Court that they had reached a Settlement in principle on July 27, 2022. The parties entered into a Stipulation of Settlement on September 12. The parties re-filed the Stipulation of Settlement on September 22. On April 11, 2023, the Court issued an Order granting preliminary approval of the Settlement. On August 14, 2023, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

On April 4, 2024, the Court issued an Order approving Distribution of the Settlement.