From the Wires
CenturyLink (CTL) ALERT: J&W Announces Filing of Class Action Complaint Against CenturyLink, Inc.; Encourages all Investors to Contact the Firm for Information
By: PR Newswire
Aug. 12, 2017 01:01 PM
SAN DIEGO, Aug. 12, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP announces that a shareholder class action lawsuit has been filed against CenturyLink, Inc. (NYSE: CTL) ("CenturyLink" or "Company") on behalf of purchasers of stock between February 27, 2014 through June 15, 2017, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for of CenturyLink investors under the federal securities laws.
The complaint alleges that defendants during the Class Period made false and misleading statements and failed to disclose that: (1) CenturyLink's policies allowed its employees to add services or lines to accounts without customer permission, resulting in millions of dollars in unauthorized charges to CenturyLink customers; (2) accordingly, CenturyLink's revenues were the product of illicit conduct and unsustainable; (3) the foregoing illicit conduct was likely to subject CenturyLink to heightened regulatory scrutiny; and (4) as a result, CenturyLink's public statements were materially false and misleading at all relevant times.
On June 16, 2017, Bloomberg reported that a lawsuit had been filed by former CenturyLink employee Heidi Heiser alleging that Heiser was fired days after notifying Chief Executive Officer Glen Post of CenturyLink's high-pressure sales culture that left customers paying millions of dollars for accounts they didn't request. Following this news, shares of CenturyLink fell over 4%.
If you wish to serve as a lead plaintiff, you must move the Court no later than August 21, 2017.
If you have held CenturyLink shares continuously before February 27, 2014, you may have standing to hold CenturyLink harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a CenturyLink shareholder and are interested in learning more about your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If you email, please include your phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
View original content:http://www.prnewswire.com/news-releases/centurylink-ctl-alert-jw-announces-filing-of-class-action-complaint-against-centurylink-inc-encourages-all-investors-to-contact-the-firm-for-information-300503514.html
SOURCE Johnson & Weaver, LLP
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