NEW
YORK, March 17, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Lumen Technologies, Inc.
(NYSE: LUMN).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/lumen-technologies-inc-loss-submission-form/?id=37363&from=4
This lawsuit is on behalf of all persons or entities who
purchased or otherwise acquired Lumen common stock between
September 14, 2020, and February 7, 2023, inclusive.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
May 2, 2023 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, Lumen Technologies, Inc. issued
materially false and/or misleading statements and/or failed to
disclose that: (i) various headwinds were impeding the Company's
ability to invest in and grow its Quantum Fiber brand; (ii) Lumen's
Quantum Fiber business was not progressing as was represented to
the investing public; (iii) Lumen's management was reassessing its
strategic priorities and had placed a hold on the plans to quickly
scale up the Quantum Fiber brand; and (iv) as a result of Lumen's
decision to delay expansion of Quantum Fiber, the Company's results
and metrics were negatively impacted and the scaling up of Quantum
Fiber would not occur until, at the earliest, the end of 2023.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law