According to an amended complaint filed last week in Manhattan federal court, AT&T management overreported the number of customers who had signed up for the company’s $35-per-month product, leading investors to believe it was well-positioned to compete with cheaper online streaming services such as Netflix and Hulu.

An AT&T location.

Source: Tom McParland

A group of AT&T Corp. investors has alleged in a revised lawsuit that the Dallas-based telecommunications giant and its executives ordered the creation of fake DirecTV Now accounts to mask the failure of the on-demand video streaming service.

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