CTL INVESTORS NOTICE: Lieff Cabraser Reminds Investors of Deadline in Class Action Against CenturyLink, Inc.
July 17 2017 - 3:08PM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
reminds investors of the upcoming deadline to move for appointment
as lead plaintiff in securities class litigation brought on behalf
of investors who purchased or otherwise acquired the securities of
CenturyLink, Inc. (“CenturyLink” or the “Company”) (NYSE: CTL)
between March 1, 2013 and June 19, 2017, inclusive (the “Relevant
Period”).
If you purchased or acquired the securities of CenturyLink
during the Relevant Period, you may move the Court for appointment
as lead plaintiff by no later than August 21, 2017. A lead
plaintiff is a representative party who acts on behalf of other
class members in directing the litigation. Your share of any
recovery in the action will not be affected by your decision of
whether to seek appointment as lead plaintiff. You may retain Lieff
Cabraser, or other attorneys, as your counsel in the action.
CenturyLink investors who wish to learn more about the
litigation and how to seek appointment as lead plaintiff should
click here or contact Sharon M. Lee of Lieff Cabraser toll-free at
1-800-541-7358.
CenturyLink is a Monroe, Lousiana provider of various
communications services. The actions allege that CenturyLink
misrepresented and failed to disclose its business practice of
allowing and incentivizing CenturyLink employees to add services or
lines to accounts without customer permission, resulting in
millions of dollars in unauthorized charges, and, as a result,
CenturyLink’s business was not sustainable and its public
statements about its financial performance and prospects were false
and misleading during the Relevant Period.
On June 16, 2017, Bloomberg reported that a former CenturyLink
customer service and sales agent filed an action against
CenturyLink for wrongful termination after she was fired for
blowing the whistle on CenturyLink’s high-pressure sales culture
that cost customers hundreds of millions of dollars in unauthorized
charges for services or lines they did not request. The former
employee’s complaint reportedly likened the misconduct of
CenturyLink sales agents “to the Wells Fargo scandal and estimated
the alleged unauthorized fees amounted to ‘many millions’ of
dollars” and that “her concerns were bolstered by posts she had
read on review websites.” Following this news, the price of
CenturyLink common stock fell $1.23 per share, or approximately
4.56%, from its closing price on June 15, 2017 to close at $25.72
on June 16, 2017.
On the next trading day, June 19, 2017, Bloomberg reported that
a consumer class action lawsuit had been filed against CenturyLink,
alleging that the sales practices described in the whistleblower
lawsuit against the Company defrauded hundreds of thousands and
potentially millions of consumers who suffered damages of between
$600 million and $12 billion. Following this news, the price of
CenturyLink stock fell $0.36 per share, or approximately 1.4%, from
its closing price on June 16, 2017 to close at $25.36.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San
Francisco, New York, Nashville, and Seattle, is a nationally
recognized law firm committed to advancing the rights of investors
and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for fourteen years. In
compiling the list, the National Law Journal examines recent
verdicts and settlements and looked for firms “representing the
best qualities of the plaintiffs’ bar and that demonstrated unusual
dedication and creativity.” Law360 has selected Lieff Cabraser as
one of the Top 50 law firms nationwide for litigation, highlighting
our firm’s “laser focus” and noting that our firm routinely finds
itself “facing off against some of the largest and strongest
defense law firms in the world.” In late 2016, Benchmark Litigation
named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in
America.”
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170717006111/en/
Source/Contact for Media Inquiries OnlyLieff Cabraser
Heimann & Bernstein, LLPSharon M. Lee, 1-800-541-7358
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