LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of a class (the “Class”) consisting of person and entities that acquired CenturyLink Inc. (“CenturyLink” or the “Company”) (NYSE: CTL) securities between August 3, 2016, and June 19, 2017, inclusive (the “Class Period”).
If you are a member of the Class described above, you may move the Court no later than 60 days from the date of this notice, to serve as lead plaintiff. Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150, or at email@example.com to discuss this matter.
On June 16, 2017, Bloomberg reported that a former CenturyLink employee claimed she was fired for blowing the whistle on the Company’s high-pressure sales culture that allegedly left customers paying millions of dollars for accounts they didn’t request. Bloomberg further reported that the complaint alleged that the Company “allowed persons who had a personal incentive to add services or lines to customer accounts to falsely indicate on the CenturyLink system the approval by a customer of new lines or services.” On this news, the Company’s stock price fell $1.23 per share, or nearly 5%, to close at $25.72 per share on June 16, 2017, on unusually heavy trading volume.
On June 19, 2017, Bloomberg reported that a consumer complaint was filed against CenturyLink based on the whistle blower complaint alleging claims of fraud, unfair competition, and unjust enrichment. On this news, the Company’s stock price fell $0.36 per share to close at $25.36 per share on June 19, 2017.
According to the complaint filed in this lawsuit, CenturyLink made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, CenturyLink failed to disclose: (1) that the Company allowed employees to add services or lines to customer accounts without customer approval; and (2) that, as a result of the foregoing, CenturyLinks’ statements the Company’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
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If you purchased shares of CenturyLink during the Class Period you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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