CenturyLink investors may receive additional information about the case by clicking the link "Join this Class Action" above.
CenturyLink provides various communications services to residential, business, wholesale, and governmental customers in the United States. The Company offers broadband, Ethernet, colocation, video entertainment and satellite digital television services.
The Complaints allege that throughout the Class Period the Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Defendants are alleged to have made false and misleading statements and/or failed to disclose that: (i) CenturyLink’s policies allowed its employees to add services or lines to accounts without customer permission, resulting in millions of dollars in unauthorized charges to CenturyLink customers; (ii) accordingly, the Company’s revenues were the product of illicit conduct and unsustainable; (iii) the foregoing illicit conduct was likely to subject CenturyLink to heightened regulatory scrutiny; and (iv) as a result of the foregoing,
CenturyLink’s public statements were materially false and misleading at all relevant times. On June 16, 2017, Bloomberg published an article entitled “CenturyLink Is Accused of Running a Wells Fargo-Like Scheme” which revealed that a lawsuit had been filed by former CenturyLink employee Heidi Heiser (“Heiser”). The article reported that Heiser had been “fired for blowing the whistle on the telecommunications company’s high-pressure sales culture that left customers paying millions of dollars for accounts they didn’t request,” and that Heiser “was fired days after notifying Chief Executive Officer Glen Post of the alleged scheme during a companywide question-and-answer session held on an internal message board.”
Following this news, CenturyLink’s share price fell $1.23, or 4.56%, to close at $25.72 on June 16, 2017.
On June 19, 2017, Bloomberg reported that a consumer complaint was filed against CenturyLink based on the whistle blower complaint alleging claims of fraud, unfair competition, and unjust enrichment.
On this news, the Company’s stock price fell $0.36 per share to close at $25.36 per share on June 19, 2017.
If you are a member of the class described above, you may no later than August 21, 2017, move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at firstname.lastname@example.org