Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against Lumen Technologies, Inc. (LUMN)

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Lumen Technologies, Inc. (“Lumen” or the “Company”) (NYSE: LUMN). The investigation concerns whether Lumen and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

Lumen provides digital solutions for home and business premises, and offers communications, network security, cloud solutions, voice, and managed services.

On February 7, 2023, Lumen announced results for the fourth quarter ended December 31, 2022, including that free cash flow was $126 million in the fourth quarter 2022, compared to $776 million in the fourth quarter 2021 and an aggregate $3.271 billion non-cash goodwill impairment, primarily in its North America business reporting unit. On this news, the price of Lumen shares declined by $1.04 per share, or approximately 20.84%, from $4.99 per share to close at $3.95 on February 8, 2023.

If you purchased or otherwise acquired Lumen securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at [e-mail], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

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