Wolf Haldenstein Adler Freeman & Herz LLP is investigating potential securities fraud claims against Lumen Technologies, Inc.
NEW YORK, NY – July 19, 2023 – Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Lumen Technologies, Inc. (“Lumen Technologies” or “the Company”) (NYSE: LUMN) for violations of federal securities laws.
All investors who purchased shares and incurred losses are advised to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774,
Wolf Haldenstein is investigating whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Lumen is an international facilities-based technology and communications company focused on providing our business and mass markets customers with a broad array of integrated products and services necessary to participate in the ever-evolving digital world.
On July 9, 2023, Lumen was implicitly mentioned in an article published by The Wall Street Journal entitled: “America is Wrapped in Miles of Toxic Lead Cables.” The article states “AT&T, Verizon and other telecom giants have left behind a sprawling network of cables covered in toxic lead that stretches across the U.S., under the water, in the soil and on poles overhead, a Wall Street investigation found. As the lead degrades, it is ending up in places where Americans live, work and play.”
Further, the article explains “[l]ead levels in sediment and soil at more than four dozen locations tested by the Journal exceeded safety recommendations set by the U.S. Environmental Protection Agency.” The Wall Street Journal also reports “[f]or many years, telecom companies have known about the lead-covered cables and the potential risks of exposure to their workers, according to documents and interviews with former employees. They were also aware that lead was potentially leaching into the environment, but haven’t meaningfully acted on potential health risks to the surrounding communities or made efforts to monitor cables.”
By close of trading on July 10, 2023, the next trading day after the revelation, the stock declined $0.12 per share from the previous closing price to close at $2.06 per share.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at firstname.lastname@example.org.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774