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Pomerantz Law Firm Reminds Shareholders With Losses on Their Investment in CenturyLink Inc Of Class Action Lawsuit And Upcoming Deadline

Friday, 12 Jul 2013 07:11pm EDT 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against CenturyLink Inc and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 13 CV 4453, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of CenturyLink between August 8, 2012 and February 14, 2013 both dates inclusive (the Class Period). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period,Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: the Defendants falsely represented through multiple shareholder presentations, press releases, conference calls, and SEC filings that it was financially capable of maintaining its historical dividend payments. As a result of Defendants' materially false and misleading statements, CenturyLink common stock traded at artificially inflated prices during the Class Period, reaching an intraday high of $42.99 on September 6, 2012. 

Company Quote

-0.01 -0.03%
24 Oct 2014