AT&T might be the next Wells Fargo (and doesn’t seem to be doing anything about it)

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AT&T just might be the next poster child for ethics and compliance gone seriously wrong, if the allegations before it ultimately prove to be true.

The damning exposé against the telecommunications and media giant comes in the form of a 233-page amended securities class-action complaint In Re AT&T/DirecTV Now Securities Litigation, filed jointly by law firms Labaton Sucharow and Pomerantz on Sept. 17 in the U.S. District Court for the Southern District of New York.

Although the lawsuit is on behalf of all investors who acquired AT&T common stock in connection with AT&T’s June 2018 acquisition of and merger with Time Warner, everything about the troubling allegations have a Wells Fargo-esque air to them: (1) employees opening potentially thousands of unauthorized accounts and enrolling customers into services without their knowledge or consent; (2) improperly enrolling customers in services they didn’t need through sales tactics known as “bundling” or “cramming”; and (3) fraudulently charging customers for services they never requested or used.

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