SAN DIEGO, May 09, 2023 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Lumen Technologies, Inc. (NYSE: LUMN) shares.
Investors, who purchased Lumen Technologies, Inc. (NYSE: LUMN) shares prior to September 2020 and continue to hold any of those Lumen Technologies, Inc. (NYSE: LUMN shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On March 3, 2023, a lawsuit was filed on behalf of certain investors in NYSE: LUMN shares over alleged securities laws violations by Lumen Technologies, Inc. The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that various headwinds were impeding Lumen’s ability to invest in and grow its Quantum Fiber brand, that Quantum Fiber was not progressing as was represented to the public, that Lumen’s management was reassessing its strategic priorities and had placed a hold on the plans to quickly scale up the Quantum Fiber brand, and that as a result of Lumen’s decision to delay expansion of Quantum Fiber, Lumen’s results and metrics were negatively impacted and the scaling up of Quantum Fiber would not occur until, at the earliest, the end of 2023.
Those who purchased Lumen Technologies, Inc. (NYSE: LUMN) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
