BOSTON, March 06, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, informs investors that there has been a class action lawsuit filed against CenturyLink, Inc. (“CenturyLink” or the “Company”) (NYSE: CTL) and certain of its officers alleging violations of the federal securities laws. Shareholders are encouraged to contact Block & Leviton LLP to learn more.
According to the complaint, which was filed in the Central District of California: (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. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you have purchased or otherwise acquired CenturyLink securities between May 10, 2018 and March 4, 2019, and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact Attorney Dan DeMaria at (888) 868-2385, by email at dan@blockesq.com, or by visiting http://shareholder.law/cases/?case=centurylink. Additionally, those interested in serving as lead Plaintiff must apply do so before the May 6, 2019, lead plaintiff deadline.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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