3 Telecom Stocks Seeing Action: SEC Drops Sprint Case, and Vodafone Sues While T-Mobile Gets Sued
Sprint Corp. (NYSE:S): Sprint’s second-quarter 10-Q reveals that the Securities and Exchange Commission has shuttered its investigation into Sprint’s sales tax payments without taking any actions against the company. However, a $300 million or more lawsuit filed in 2012 by New York’s attorney general remains outstanding. The lawsuit accuses the carrier of failing to pay full state sales taxes on unlimited calling plans.
Vodafone (NASDAQ:VOD): Vodafone is seeking $1.3 billion in damages from Telecom Italia, claiming that the latter — Italy’s largest phone company — abused its dominant position in the market. Telecom Italia is insistent on prove the “absolute correctness” of its actions despite being fined about 104 million euros for abusing its dominant position in network infrastructure in May.
T-Mobile US (NYSE:TMUS): North South Holdings has filed a complaint against T-Mobile on the basis that T-Mobile violated its geolocation patent holdings. The case revolves around the cell phone geolocation technology that T-Mobile currently uses on its network, which North South acquired, along with 200 others, from Harris Corp. in 2012. No financial information was disclosed.