BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased CenturyLink Inc. (“CenturyLink” or the “Company”) (NYSE: CTL) securities between August 3, 2016, and June 19, 2017, inclusive (the “Class Period”). CenturyLink investors have until August 18, 2017 to file a lead plaintiff motion.
Investors suffering losses on their CenturyLink investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
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, CenturyLink's statements the Company’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased shares of CenturyLink during the Class Period you may move the Court no later than August 18, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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