Lawsuit: AT&T’s DirecTV Now is a flop and AT&T lied to investors about it
AT&T lied to investors in order to hide the failure of its DirecTV Now streaming TV service, a proposed class action alleges.
AT&T told investors that DirecTV Now was succeeding even as its subscriber base fell due to price increases and the discontinuance of promotional discounts, said the complaint filed Monday in US District Court for the Southern District of New York. The complaint accuses AT&T and executives including CEO Randall Stephenson of violating the US Securities Act by “knowingly or recklessly” making false statements to investors and failing to disclose problems that were affecting DirecTV Now sales.
Big corporations can totally monitor and self police their behavior, uh huh, sure. 🙄