NEW YORK, NY / ACCESSWIRE / February 21, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of AT&T Inc. ("AT&T" or the "Company") (NYSE: T). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/t.
The investigation concerns whether AT&T and certain of its officers and/or directors have violated federal securities laws.
In June 2018, in connection with its acquisition of Time Warner Inc. ("Time Warner"), AT&T issued approximately 1.185 billion new shares of AT&T common stock directly to former shareholders of Time Warner common stock, with each former share of Time Warner common stock issued and outstanding immediately before the acquisition converted into the right to receive 1.437 shares of newly issued AT&T common stock. The Registration Statement issued in connection with the stock issuance touted yearly and quarterly growth trends in AT&T's Entertainment Group segment, particularly Video Entertainment, including quarterly subscriber gains in its DirecTV Now service sufficient to offset any decrease in traditional satellite DirecTV subscribers, such that AT&T was purportedly experiencing an ongoing trend of total video subscriber "Net Additions." It subsequently became clear that AT&T had substantially increased prices while discontinuing promotional discounts for its DirecTV Now service, and was consequently losing subscribers. Since the Time Warner acquisition, AT&T's stock price has fallen as low as $27.36 per share, a decline of nearly 16% from the $32.52 price per share on the exchange date for the acquisition.
If you are aware of any facts relating to this investigation, or purchased AT&T shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/t. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
SOURCE: Bronstein, Gewirtz and Grossman, LLC