CenturyLink, Inc. Securities Litigation (2019)

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Lawsuit Overview

Defendant:CenturyLink, Inc.
Date Filed:March 6th, 2019
Industry:Telecommunications Equipment

According to the Complaint, CenturyLink purports to provide various communications services to residential, business, wholesale, and governmental customers primarily in the United States.

The Complaint alleges that during the Class Period, 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.

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First Identified Complaint

James Caliendo, et al. v. CenturyLink, Inc., et al.

Date Filed:March 6th, 2019
Class Period Start:May 10th, 2018
Class Period End:March 4th, 2019
First Identified Complaint Filings
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