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INX:T, Aug 17, 03:55 UTC

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FTC's $4 Billion Lawsuit Against DirecTV Gutted by Judge

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The U.S. Federal Trade Commission failed to convince a federal judge in San Francisco that DirecTV should pay nearly $4 billion in restitution to customers for allegedly misleading consumers about the costs of programming packages. The judge didn’t eliminate all of the FTC’s false advertising claims but made clear that “the scope of the maximum potential recovery in this case has been substantially curtailed.”. “This case did not involve the type of strong proof the court would expect to see in a case seeking nearly $4 billion in restitution, based on a claim that all of DirecTV’s 33 million customers between 2007 and 2015 were necessarily deceived,” U.S. District Judge Haywood Gilliam said Thursday. The FTC also alleged the subscription television service failed to alert customers that its offer for 90 days of premium channels required them to cancel the subscription to avoid continuing monthly charges. While the judge deferred on the agency’s allegations that DirecTV misled consumers on its website, he said there remain a number of problems with the FTC’s theories for relief and that the FTC “has an uphill climb.”.

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Judge Rejects Large Parts of FTC Suit Against DirecTV

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A California federal judge on Thursday rejected large parts of a nearly $4 billion government lawsuit alleging satellite-TV giant DirecTV engaged in deceptive advertising. At issue was a 2015 lawsuit by the U.S. Federal Trade Commission that alleged DirecTV didn’t adequately disclose that its lower promotional prices lasted only for the first year of a two-year contract. The FTC also alleged the pay-TV service offered free months of premium channels without telling customers they needed to cancel those channels at the end of the promotional period to avoid monthly charges. U.S. District Judge Haywood Gilliam held a bench trial last year.

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Federal judge rules that FTC doesn't have strong enough evidence in claims against AT&T's DirecTV

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MARKET PULSE A federal judge ruled on Thursday that the Federal Trade Commission doesn't have strong enough evidence to back its claim that AT&T Inc. (T) subsidiary DirecTV engaged in deceptive advertising of its satellite TV service, according to the Wall Street Journal.

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ATT Closes AppNexus Buyout to Go Deep Into Digital Ad Realm - August 16, 2018

VZ T +1 more VZ T APP

AT&T Inc. T recently completed the acquisition of AppNexus, a technology firm that operates the world’s largest independent marketplace for digital advertising. The transaction is likely to augment AT&T’s foothold in the digital ad sales market, which is virtually commanded by Facebook, Inc. FB and Alphabet Inc.’s GOOGL Google.With more than 34,000 publishers and 177,000 brands transacting in the marketplace, AppNexus allows advertisers to buy space across thousands of websites, targeting their desired audience. The transaction, valued at around $1.6 billion, is therefore expected to place AT&T deeper into the digital ad realm.The acquisition will also offer the requisite wherewithal to better compete against its rival Verizon Communications Inc. VZ, which already has a significant presence in online advertising after its 2015 acquisition of AOL for $4.4 billion. Verizon also purchased the digital assets of Yahoo in 2016 for $4.8 billion and merged them with AOL to create a new company — Oath — which is currently introducing extended reality ad for marketers.Oath is using brand advertising intelligence to help marketers build emotional connections with their customers through new 3D ad formats and first-in-market programmatic virtual reality (VR) ads.

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3 Big Stock Charts for Thursday: AT&T, International Paper and Hormel Foods

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Leading the charge lower was Micron (NASDAQ:MU), off more than 6% as traders continue to worry the technology sector is running into a headwind, with a memory chip glut as the featured centerpiece. There just weren’t enough winners to keep the market out of the red ink. As Thursday’s action gets going, AT&T (NYSE:T), Hormel Foods (NYSE:HRL) and International Paper (NYSE:IP) are shaping up as the top trading bets. Specifically, T stock fell 30% from its early 2017 peak to last month’s low. What most investors can’t fully explain, though, is exactly why AT&T’s stock peeled back the way it did. In taking a longer, closer look at both the daily and the weekly stock charts, however, it becomes clear IP is hanging by a thread.

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How AT&T Intends to Fund the Mexico Spectrum Purchase

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AT&T’s (T) bid was successful in a recent spectrum auction in Mexico. AT&T placed a $76.0 million bid in the Mexico spectrum auction. The spectrum AT&T is buying in Mexico is suited for 5G mobile networks.

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Wednesday, August 15


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Cryptocurrency Entrepreneur and Investor Michael Terpin Sues “Too Big to Care” AT&T for Permitting $23.8 Million Theft in “SIM Swap” Scam by Authorized Agent

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Cryptocurrency Entrepreneur and Investor Michael Terpin Sues “Too Big to Care” AT&T for Permitting $23.8 Million Theft in “SIM Swap” Scam by Authorized Agent. LOS ANGELES, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Michael Terpin, serial entrepreneur and pioneering cryptocurrency investor, today filed a $223.8 million lawsuit against AT&T (NYSE:T) on 16 counts of fraud, gross negligence, invasion of privacy, unauthorized disclosure of confidential customer records, violation of a consent decree, failure to supervise its employees and investigate their criminal background, and related charges in US District Court in Los Angeles. The suit arises from the January 7, 2018, theft of more than 3 million cryptocurrency tokens from Terpin by way of by a digital identity theft by an AT&T agent of Terpin’s cellphone account and transfer to an international criminal gang being pursued by the FBI and multiple other federal and state law enforcement agencies. The complaint then goes on to detail the July 2018 arrests of multiple SIM swap gang members, including Joel Ortiz, who was arrested on July 12 in Los Angeles on 28 counts and is suspected of stealing at least $5 million in cryptocurrency in similar hacks, including a $1.5 million SIM swap of an AT&T subscriber during New York Blockchain Week; and the July 18 arrest of Ricky Joseph Handschumacher in Florida for his role in a gang that stole at least $460,000 in bitcoin by hijacking SIM identities from AT&T customers, allegedly using information from one of its members in Michigan to effectively impersonate an AT&T customer service representative.

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AT&T Invests More Than $975 Million Over 3-Year Period to Boost Local Networks in Louisiana

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AT&T Louisiana continues to demonstrate its strong commitment to building a company, products and services to help our state's economy grow today and for the future." Sonia Perez, President of AT&T Louisiana said, "With more than $975 million of investment in just the past three years, AT&T Louisiana is on a forward-thinking path to help ensure more access and higher-speed connectivity than ever before. FirstNet is a new nationwide communications platform dedicated to America's public safety community. As we build, deploy and evolve FirstNet, we will build upon our current and planned investments in Louisiana to help ensure public safety's network delivers the coverage and cutting-edge capabilities first responders expect – today and for decades to come. For the 4th year in a row, AT&T earned the top spot in the telecommunications industry on FORTUNE's Most Admired Companies list in 2018. We have the largest fiber network within our 21-state wireline footprint.2 And AT&T is the largest U.S.-based provider of fiber for business services, creating an unparalleled ability to serve businesses of all sizes. To learn more about our coverage in Louisiana, or anywhere in the U.S., visit the AT&T Coverage Viewer. For updates on the AT&T wireless network, please visit the AT&T network news page.

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Analysts’ Price Targets and Recommendations for AT&T

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Of the 32 analysts covering AT&T (T) stock on August 6, 11 recommended “buy,” three recommended “sell,” and 18 (~56%) recommended “hold.” Their 12-month target price of $35.91 for AT&T implies a 12% return based on its August 6 closing price of $32.11. In the last five trading days, AT&T stock has returned 0.3%, while Sprint (S), Verizon (VZ), and T-Mobile (TMUS) have returned 12.6%, -0.1%, and 10.8%, respectively.

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AT&T Completes Acquisition of AppNexus

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AT&T* announced today the completion of its acquisition of AppNexus, now part of AT&T advertising & analytics led by CEO Brian Lesser. AT&T has more than 170 million direct-to-consumer relationships across its wireless, video and broadband businesses.1 AppNexus also extends AT&T advertising and analytics’ footprint globally, expanding into Asia-Pacific, Australia, Europe, and Latin America. “With the addition of AppNexus, I’m excited about the role AT&T will play in rethinking advertising not just for today, but for the future — advertising that’s better for brands, publishers and consumers.”. AT&T advertising & analytics is creating a new option for advertisers and publishers to find and reach specific audiences at scale in trusted, premium content environments. As a current leader in advanced TV advertising, we help advertisers deliver the right message, at the right time, on any device within a premium content environment.

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