Shareholders Sue United Telecom: United Telecommunications Inc....
From Times Staff and Wire Reports
Shareholders Sue United Telecom: United Telecommunications Inc. has been accused in six class-action shareholder suits of failing to inform investors of financial problems at the parent of US Sprint. Kansas City, Mo.-based United Telecom reported last week that its second-quarter earnings fell 55%, due largely to problems at Sprint, the long-distance company of which it is majority owner. The report sent United Telecom’s stock tumbling.