AT&T is Being Sued Over Misleading Investors About DIRECTV NOW

Discussion in 'DIRECTV General Discussion' started by Athlon646464, Apr 3, 2019.

  1. Apr 3, 2019 #1 of 18
    Athlon646464

    Athlon646464 Yada Yada Yada DBSTalk Gold Club

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    From a story HERE:

    "Yesterday the Law Offices of Howard G. Smith announced a class action lawsuit targeting AT&T over what it claims to be misleading investors over DIRECTV NOW. The issue seems to be a question about if AT&T knowingly mislead investors when it said that DIRECTV NOW’s growth would continue."
     
    Rich likes this.
  2. Apr 3, 2019 #2 of 18
    slice1900

    slice1900 Well-Known Member

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    These types of lawsuits never succeed, though sometimes a company will pay a few hundred thousand to make them go away so they save legal costs they'd otherwise incur defending it - that's what the "law offices of Howard G. Smith" are hoping for. The investors will never see a penny.
     
    SamC likes this.
  3. Apr 6, 2019 #3 of 18
  4. Apr 7, 2019 #4 of 18
    dod1450

    dod1450 Legend

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  5. Apr 7, 2019 #5 of 18
    dreadlk

    dreadlk Hall Of Fame

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    AT&T better get there act together fast and decide if they want to really do streaming in super competitive environment or stay and promote the satellite service. These mixed signals they are sending out would have any investor nervous.
     
  6. Apr 7, 2019 #6 of 18
    Rob37

    Rob37 Active Member

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    They need to be sued over our bills being too high. We pay high bills every month & the service has gotten worse with the Pixelation issues.
     
  7. Apr 7, 2019 #7 of 18
    slice1900

    slice1900 Well-Known Member

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    Nervous investors are a short term thing, and don't impact the stock price long term once the reason for them to be nervous goes away.

    I'd worry more about nervous customers - given their sloppy statements and poor execution it would be easy to Dish to sell some of Directv's satellite customers that Directv will be discontinuing satellite in a few years so they should switch to Dish for something that will be around for the long haul. Ditto they could sell them on Sling arguing that Directv Now has seen two price increases in the past year and claim more are on the way.
     
  8. Apr 7, 2019 #8 of 18
    slice1900

    slice1900 Well-Known Member

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    Sue based on bills being too high? The way you deal with bills being too high OR service being worse is to take your business elsewhere. Should I sue Ferrari because I want a Tributo but think I should only pay $75,000 for it?
     
    compnurd likes this.
  9. Apr 7, 2019 #9 of 18
    SledgeHammer

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    You can get one for that price on Copart :).
     
  10. SledgeHammer

    SledgeHammer Icon

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    There's always a Bob's Bait & Tackle / Legal Offices law firm that comes out when ever a company does anything remotely shady or the stock drops a lot. I tried contacting a couple a few years ago just to see what happens... nothing... they don't even respond to you. I know they won't even talk to you unless you lost over $100k, but I couldn't even get a "how much did you lose?" response from them.
     
  11. compnurd

    compnurd Hall Of Fame

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    This may be the funniest thing I have read all week
     
  12. Rob37

    Rob37 Active Member

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    funny huh? Just go look around at some of the posts about the Pixelation issues. They have been going on for far too long & aren’t really getting fixed.
     
  13. compnurd

    compnurd Hall Of Fame

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    I have zero pixelation issues here and haven’t Go around and read these same posts of people not having this issue

    If it is that much of an issue switch to Dish
     
  14. KyL416

    KyL416 Hall Of Fame

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    You might want to read some of the other threads here and some other places where information of substance was posted related to this known issue. (i.e. threads where people provided information about their setup like the specific model receiver they're using, what they were watching and how they were watching it when they experienced or didn't experience the issue, instead of threads with a bunch of people only saying "I see this issue" and "I don't see this issue")

    It IS a known issue that only affects specific models of receivers. i.e. the HR24-500 is one of the ones affected by this known issue, but not the HR24-200 or the HR24-100, the H25-500 is also affected. There's also an audio dropout issue related to these models that only affects people who are watching live content with Dolby Digital enabled on an AVR, but not if they're watching playback from the hardrive (recordings or delayed content from the buffer) or live with PCM audio. So you also got a bunch of people who primarily view recordings and won't experience the issue until they are watching something live on one of the affected channels, which also leads to people mistakenly believing it's sports related since that's the content most people tend to watch live, even though the issue affects some non-sports channels. (And no, that does not mean it's originating from the master feed of those affected channels, since it affects channels with different owners from different C-Band transponders, while other sister channels from the same C-Band transponders are not affected)


    But really, the HR24-500 should have never been approved to be manufactured with different specs compared to the rest of the line, which led to these model/manufacturer specific issues... (There's a reason why the HR24-500 was frequently last in line to see updates both in NR and during the testing processes over the years) I wish sites like Solid Signal would also break down models by manufacturer on their site, so people can have the option to avoid the -500 models if they want. But then again they mistakenly believe that there's no difference between the RC6x remotes outside of the RX/RBX variations for RF or backlight support, even though a quick check shows each new model has additional codes available.
     
    Last edited: Apr 7, 2019
    MysteryMan likes this.
  15. Rob37

    Rob37 Active Member

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    yes it is a known issue for 2 plus years it’s been going on now.
     
    KyL416 likes this.
  16. Rob37

    Rob37 Active Member

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    I am not switching to dish. Been with DIRECTV since 1997. The service has went down since AT&T bought them.
     
  17. Rob37

    Rob37 Active Member

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    I am not switching to Dish. Hell AT&T needs to shape things up.
     
  18. James Long

    James Long Ready for Uplink! Staff Member Super Moderator

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    I expect your proposed lawsuit will have the same outcome as the one that is the topic of this thread. A lot of noise when it starts, years of working thorogh the court system, and if (not when) you are lucky enough to "win" the lawyers get paid first then the plaintiffs split the rest of the awarded penalty. Expect a small check or something else of limited value.

    What would you be suing them for? A lower bill? It would not take much for AT&T|DIRECTV to show the increase in their costs for programming on an industrywide basis and demonstrate that their bills have gone up in line with or less than the increase in costs. Every contract includes "prices subject to change" ... why would that not apply to you? Even if AT&T|DIRECTV's rates went up more than the rest of the industry, when were you as a customer guaranteed a low bill? Read the contract - that is where your guarantees can be found. Would you be suing them for a better receiver? Perhaps they should have replaced your HR24-500 with a HR24-200 or HR24-100. Perhaps after a few years working through the court system that will be the result of your suit.

    Back to the topic of THIS THREAD ... a couple of investors are suing AT&T for allegedly false statements in connection with their merger with Time Warner. The lawyers are focusing on forward looking statement disclaimers (which are typically the same boilerplate "we could lose all of our customers, we could lose all of the content we carry, our satellites could fall out of the sky" type language) and claiming that those risks WERE occurring at the time of the statement. The claim is that AT&T should have worded the statements differently - instead of "we may lose customers" due to the fluidity of the OTT market state it as "we are losing customers" due to the fluidity of the OTT market.

    The problem is that even though DIRECTV NOW had a bad fourth quarter, they increased NOW subscribers from Dec 2017 to Dec 2018. They increased NOW subscribers every quarter until 4Q 2018 the NOW subscriber loss the plaintiffs are complaining about WAS a future event that "may" happen until it did happen. And then the plaintiffs drift over to complaining about DIRECTV satellite subscriber loss - a loss that has been known to be occurring for a couple of years and has been disclosed to stockholders as occurring.

    Perhaps the investors should be suing AT&T for not teaching them how to read statements to investors.
     
    compnurd and KyL416 like this.

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