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Glancy Prongay & Murray LLP ("GPM") reminds investors of the August 21, 2017 deadline in the class action lawsuit filed on behalf of investors who purchased CenturyLink, Inc. ("CenturyLink" or the "Company") (NYSE: CTL) securities between March 1, 2013 and June 16, 2017, inclusive (the "Class Period"). CenturyLink investors have until August 21, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the CenturyLink case page on our website at www.glancylaw.com/case/centurylink-inc.
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On June 16, 2017, Bloomberg reported that a former CenturyLink employee claimed she was fired for blowing the whistle on the Company's high-pressure sales culture that allegedly left customers paying millions of dollars for accounts they didn't request. Bloomberg further reported that the complaint alleged that the Company "allowed persons who had a personal incentive to add services or lines to customer accounts to falsely indicate on the CenturyLink system the approval by a customer of new lines or services." On this news, the Company's stock price fell $1.23 per share, or nearly 5%, to close at $25.72 per share on June 16, 2017, on unusually heavy trading volume.
On June 19, 2017, Bloomberg further reported that a consumer complaint was filed against CenturyLink based on the whistle blower complaint alleging claims of fraud, unfair competition, and unjust enrichment. On this news, the Company's stock price fell $0.36 per share to close at $25.36 per share on June 19, 2017.
According to the complaint filed in this lawsuit, CenturyLink made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, CenturyLink failed to disclose: (1) that the Company allowed employees to add services or lines to customer accounts without customer approval; and (2) that, as a result of the foregoing, CenturyLink's statements the Company's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
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If you purchased shares of CenturyLink during the Class Period you may move the Court no later than August 21, 2017 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170817006005/en/
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.