T-Mobile must face private antitrust lawsuit over $26 bln Sprint deal - US judge
A judge in Chicago has said that T-Mobile has to face a lawsuit from AT&T and Verizon customers. These customers believe that T-Mobile's deal with Sprint hurt competition and made them pay more money for their cell phone service. The judge, Thomas Durkin,
said that the customers have a reasonable argument that the higher prices they paid were a direct result of the $26 billion merger.
This lawsuit represents a group of tens to hundreds of millions of consumers and was filed last year. They want T-Mobile to face various penalties,
including undoing the merger between T-Mobile and Sprint in 2020. It's important to note that the judge's decision doesn't prove the customers' claims yet. The case will continue, and the court has removed Japan's SoftBank, Sprint's controlling shareholder, from the list of defendants.
T-Mobile and SoftBank have denied any wrongdoing, and they have not given any immediate comments on the judge's decision. The customers' attorney, Brendan Glackin, expressed gratitude for the court's decision and is eager to proceed with the case.
In the United States, consumers, small businesses, and others have the right to challenge mergers or acquisitions privately under antitrust laws. These cases are separate from government actions. Some states also sued over the T-Mobile-Sprint deal, but a federal judge in Manhattan ruled against them in 2020,
allowing the merger to proceed. The U.S. Justice Department was not part of that lawsuit but made a settlement with the merged company, requiring them to sell some assets to DISH Network.
The customers in the Chicago lawsuit are AT&T and Verizon subscribers from Illinois and Indiana. They believe the T-Mobile-Sprint merger was one of the most anti-competitive deals in history. AT&T and Verizon are not part of this case, and they have not commented on the judge's decision.
T-Mobile's lawyers have called this lawsuit "unprecedented" and believe that the customers' claims are speculative. They suggest that if the customers are unhappy with AT&T and Verizon, they should switch to T-Mobile, as the wireless market is highly competitive.A judge in Chicago has said that T-Mobile has to face a lawsuit from AT&T
and Verizon customers. These customers believe that T-Mobile's deal with Sprint hurt competition and made them pay more money for their cell phone service. The judge, Thomas Durkin, said that the customers have a reasonable argument that the higher prices they paid were a direct result of the $26 billion merger.
This lawsuit represents a group of tens to hundreds of millions of consumers and was filed last year. They want T-Mobile to face various penalties, including undoing the merger between T-Mobile and Sprint in 2020. It's important to note that the judge's decision doesn't prove the customers' claims yet. The case will continue,
and the court has removed Japan's SoftBank, Sprint's controlling shareholder, from the list of defendants.
T-Mobile and SoftBank have denied any wrongdoing, and they have not given any immediate comments on the judge's decision. The customers' attorney, Brendan Glackin, expressed gratitude for the court's decision and is eager to proceed with the case.
In the United States, consumers, small businesses, and others have the right to challenge mergers or acquisitions privately under antitrust laws. These cases are separate from government actions. Some states also sued over the T-Mobile-Sprint deal,
but a federal judge in Manhattan ruled against them in 2020, allowing the merger to proceed. The U.S. Justice Department was not part of that lawsuit but made a settlement with the merged company, requiring them to sell some assets to DISH Network.
The customers in the Chicago lawsuit are AT&T and Verizon subscribers from Illinois and Indiana. They believe the T-Mobile-Sprint merger was one of the most anti-competitive deals in history. AT&T and Verizon are not part of this case, and they have not commented on the judge's decision.
T-Mobile's lawyers have called this lawsuit "unprecedented" and believe that the customers' claims are speculative. They suggest that if the customers are unhappy with AT&T and Verizon, they should switch to T-Mobile, as the wireless market is highly competitive. We'll find out on Tuesday. We kindly request you to disseminate this news and provide your insights in the comments section. Thank you
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