BT Stock Soars After Denial of Overpricing Claims

Investing.com -- BT Group PLC (LSE:BT.A) shares rose 1% today following the dismissal of a class action lawsuit alleging excessive pricing for fixed-line services. The Competition Appeal Tribunal ruled in favor of the company, stating that while the pricing was found to be excessive, it did not violate competition law. The lawsuit sought approximately £1.3 billion in damages on behalf of 3.7 million consumer customers, raising significant concerns for shareholders. Today's ruling by the court alleviated important legal uncertainties for the telecommunications giant, potentially restoring investor confidence in the company’s stock. Morgan Stanley analyst Terence Tsui commented on the outcome: "The lawsuit created uncertainty over the shares, so the result is positive."