Verizon Wireless, T-Mobile resolve lawsuits over ad campaigns

Verizon sued T-Mobile in February. It later added claims that T-Mobile ads misled customers by promising more than $3,700 of savings over five years compared with Verizon and AT&T T.N, and promising to "save up to 20% vs. the other big guys."

T-Mobile's countersuit said Verizon's own campaign featuring bug-eyed images of George Washington, Abraham Lincoln and Benjamin Franklin was bogus because that carrier could not promise customers a "better deal."

As of June 30, Verizon had 147 million subscribers according to its latest quarterly financial report. T-Mobile had slightly fewer subscribers before changing its disclosures of subscriber metrics this year.

NEW YORK, Sept. 14 (Reuters) - Verizon Wireless VZ.N and T-Mobile TMUS.O have resolved lawsuits accusing each other of deceiving consumers through ads that promised big savings from switching cellphone carriers.

A stipulation of dismissal of Verizon's lawsuit and T-Mobile's countersuit was filed on Friday in Manhattan federal court.

The dismissal came more than five months after U.S. District Judge Lewis Kaplan issued a preliminary injunction in Verizon's favor to block T-Mobile's "Save Over $1,000" campaign.

Verizon, T-Mobile and their respective lawyers did not immediately respond to requests for comment on Monday.

Settlement talks had included a possible framework to resolve similar future advertising-related disputes.