UScellular Parent Stockholder Drops Suit Over Promotion Impact

A Telephone and Data Systems Inc. stockholder voluntarily dismissed her federal lawsuit against its board members and two of its subsidiary’s executives over United States Cellular Corp.‘s promotion to combat client churn.

The shareholder notified the US District Court for the Northern District of Illinois that she dropped her allegations, leaving the ability to refile, on Wednesday—two days after the TDS leaders asked Judge Rebecca R. Pallmeyer to stay the case while a similar derivative action played out in state court in Illinois. A shareholder derivative action is a lawsuit filed on behalf of a company against its ...