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Scott+Scott, Attorneys at Law, LLP Files Class Action Lawsuit Against CenturyLink Inc on Behalf of Investors


Wednesday, 5 Jun 2013 03:42pm EDT 

Scott+Scott, Attorneys at Law, LLP announced that it filed a class action complaint against CenturyLink Inc (CenturyLink or the Company) in the United States District Court for the Southern District of New York. The securities class action, which seeks remedies under the Securities Exchange Act of 1934, was filed on behalf of those persons and entities who purchased or otherwise acquired CenturyLink securities between August 8, 2012 and February 14, 2013, inclusive (the Class Period). The securities class action charges that, throughout the Class Period, CenturyLink made false and/or misleading statements to investors and failed to disclose material adverse facts concerning CenturyLink's dividend cut. Specifically, the complaint alleges that CenturyLink misled investors concerning the strength of its free cash flow, which was an important factor in the Company's ability to maintain its dividend levels. These false and misleading statements artificially inflated, maintained, and increased the price of CenturyLink's common stock, which traded as high as $42.99 during the Class Period. 

Company Quote

34.43
-0.31 -0.89%
4:00pm EDT