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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of CenturyLink Inc. Investors

March 8, 2019

BENSALEM, Pa.--(BUSINESS WIRE)--Mar 7, 2019--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of shareholders that acquired CenturyLink, Inc. (“CenturyLink” or the “Company”) (NYSE:  CTL ) securities between  May 10, 2018 and March 4, 2019,  inclusive (the “Class Period”). CenturyLink investors have until  May 6, 2019 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 howardsmith@howardsmithlaw.com.

On March 4, 2019, CenturyLink disclosed that it had “identified material weaknesses in internal controls over the Company’s revenue recording processes and the procedures for measuring fair value of assets and liabilities assumed in connection with the Level 3 Communications, Inc.” As a result, the Company would not be able to timely file its annual report for the period ended December 31, 2018. On this news, the Company’s share price fell $0.82 per share, or over 6%, to close at $12.15 per share on March 4, 2019, thereby injuring investors.

The complaint filed in this class action alleges that 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 Communications, Inc. 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.

If you purchased shares of CenturyLink, have information or would like to learn more about these claims, or 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  howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190307005932/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2019.

PUB: 03/07/2019 07:52 PM/DISC: 03/07/2019 07:52 PM

http://www.businesswire.com/news/home/20190307005932/en