Scott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Actions Against CenturyLink, Inc. (CTL)
NEW YORK--(BUSINESS WIRE)--Mar 26, 2019--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is notifying investors that class action lawsuits have been filed against CenturyLink, Inc. (“CenturyLink” or the “Company”) (NYSE: CTL), and certain other defendants, related to alleged violations of federal securities laws. If you purchased CenturyLink common stock between May 10, 2018 and March 4, 2019, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information.
CenturyLink provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. On November 1, 2017, CenturyLink acquired Level 3 Communications, Inc. (“Level 3”), a telecommunications and internet service provider.
The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) CenturyLink had undisclosed material weaknesses in its internal controls over revenue recording processes and the procedures for measuring fair value of assets and liabilities assumed in connection with its Level 3 acquisition; (2) consequently, CenturyLink would delay the filing of its Form 10-K for the fiscal year ended December 31, 2018 despite initially reporting those financial results in a press release dated February 13, 2019; and (3) as a result, CenturyLink’s public statements were materially false and misleading at all relevant times.
On March 4, 2019, CenturyLink announced it would not be able to timely file its annual 10-K report for the period ended December 31, 2018 because it had “identified material weaknesses in internal controls over [its] revenue recording processes and the procedures for measuring fair value of assets and liabilities assumed in connection with the Level 3 [ ] acquisition.”
On this news, shares of CenturyLink fell $0.82 per share – over 6% – to close at $12.15 per share on March 4, 2019.
What You Can Do
If you purchased CenturyLink stock between May 10, 2018 and March 4, 2019, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982 or email@example.com. The lead plaintiff deadline is May 6, 2019.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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CONTACT: Joe Pettigrew
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17 Fl., New York, NY 10169-1820
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Scott+Scott Attorneys at Law LLP
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PUB: 03/26/2019 01:36 PM/DISC: 03/26/2019 01:36 PM