The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Verizon Communications Inc. (NYSE: VZ) who purchased securities between October 30, 2018 and July 26, 2023. The action, which was filed in the United States District Court for the Western District of Pennsylvania, alleges that the Company violated federal securities laws.
In particular, the Verizon lawsuit alleges that (1) Verizon owns cables around the country that are highly toxic due to being wrapped in lead, and which harm Company employees and non-employees alike; (2) it faces potentially significant litigation risk, regulatory risk, and reputational harm as a result of its ownership of these lead cables and the health risks stemming from their presence around the United States; (3) it was warned about the damage and risks presented by these cables but did not disclose that they posed a threat to employee safety, to everyday people, and communities around the country; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until October 2, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
To learn more and keep informed, complete this form >