The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of CenturyLink, Inc. (NYSE: CTL) who purchased shares between March 1, 2013 and June 16, 2017. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, CenturyLink made materially false and/or misleading statements and/or failed to disclose that: (1) CenturyLink’s policies had engaged the Company in unlawful business practices by allowing its employees to add services or lines to accounts without customer permission, resulting in millions of dollars in unauthorized charges to CenturyLink customers; (2) accordingly, the Company’s revenues contained ill-gotten gains that originated from the Company’s illicit conduct and were unsustainable; and (3) the foregoing illicit conduct was likely to subject CenturyLink to heightened regulatory scrutiny; and (4) as a result of the foregoing, Defendants’ statements about CenturyLink’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Shareholders have until August 21, 2017 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.
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