AT&T to pay $14.5 million to settle hidden fee lawsuit

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AT&T ($NYSE:T) will pay $14.5 million to settle a class action lawsuit over allegedly hidden fees. The lawsuit alleged that AT&T violated state consumer protection laws by charging customers a “monthly regulatory cost recovery charge” without adequately disclosing what the charge was for. AT&T has denied any wrongdoing, but has agreed to settle the lawsuit to avoid further litigation.

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Price History

AT&T has denied any wrongdoing, but has agreed to refund customers who were charged the fees and to stop charging the fees going forward. The settlement still needs to be approved by a judge. This is not the first time AT&T has been accused of misleading customers.

VI Analysis

AT&T Inc. is a holding company, which engages in the provision of telecommunications and digital entertainment services. It operates through the following segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment provides wireless and wireline services to business, government, and wholesale customers. The Entertainment Group segment offers video, Internet, and voice communications services to residential customers.

VI Peers

AT&T Inc is one of the world’s largest telecommunications companies, with a wide range of products and services including wireless, broadband, and television. It competes primarily with Verizon Communications Inc, America Movil SAB de CV, and T-Mobile US Inc. All three companies are leaders in their respective markets and offer a variety of products and services to their customers.

– Verizon Communications Inc ($NYSE:VZ)

Verizon Communications Inc. has a market capitalization of 155.68 billion as of 2022 and a return on equity of 22.51%. The company is a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies. Verizon operates in four business segments: Wireless, Residential, Business and Verizon Media Group.

– America Movil SAB de CV ($OTCPK:AMXVF)

America Movil is a Mexican telecommunications company that offers wireless voice and data services, as well as fixed-line and pay television, in Mexico and throughout Latin America. The company has a market cap of 52.63B as of 2022 and a Return on Equity of 26.76%. America Movil is one of the largest mobile network operators in the world, with over 260 million subscribers.

– T-Mobile US Inc ($NASDAQ:TMUS)

T-Mobile US Inc is a wireless carrier operating in the United States. The company has a market cap of 170.75 billion as of 2022 and a return on equity of 4.35%. T-Mobile US Inc offers wireless voice, messaging, and data services to customers in the United States. The company operates a nationwide 4G LTE network covering more than 320 million people.

Summary

The company has a history of solid financial performance and has paid dividends to shareholders for over 30 years. AT&T’s main business is providing wireless and wireline voice and data communication services to consumers, businesses, and government agencies. AT&T’s wireless business is the largest in the United States and the company has the second largest wireline business in the country. In recent years, AT&T has been investing heavily in its wireless and wireline networks.

AT&T’s network investments have been paying off, as the company has been able to add new customers and grow its revenue. AT&T’s strong financial performance and large dividend make it a attractive stock for income investors. The company’s heavy investment in its wireless and wireline networks should help it continue to grow its customer base and revenue in the future.