Lumen Technologies, Inc. Class Action Lawsuit - LUMN
Case Summary
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The Lumen Technologies class action lawsuit seeks to represent purchasers or acquirers of Lumen Technologies, Inc. (NYSE: LUMN) securities between March 11, 2019 and July 14, 2023, inclusive (the “Class Period”). Captioned McLemore v. Lumen Technologies, Inc. f/k/a CenturyLink, Inc., No. 23-cv-01290 (W.D. La.), the Lumen Technologies class action lawsuit charges Lumen Technologies and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Lumen Technologies class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the Lumen Technologies class action lawsuit must be filed with the court no later than November 14, 2023.
CASE ALLEGATIONS: The Lumen Technologies class action lawsuit alleges that Lumen Technologies is one of multiple telecommunications companies that inherited the Bell Telephone Company’s (“Bell System”) telecom cables following the breakup of the Bell System’s telecommunications monopoly in 1984.
The Lumen Technologies class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Lumen Technologies owned and/or still owns thousands of miles of cables wrapped in lead, a known neurotoxin, within the U.S.; (ii) this has harmed and posed the risk of further harming the environment, exposed Lumen Technologies employees and the general public, thereby posing a significant public health risk and environmental pollution risk; (iii) Lumen Technologies was on notice about the damage and risks presented by these lead-covered cables but did not disclose them as a potential threat to everyday people and communities, as well as failed to provide adequate lead training to employees; and (iv) all of the above subjected Lumen Technologies to a heightened risk of governmental and regulatory oversight and enforcement action, as well as legal and reputational harm.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Lumen Technologies securities during the Class Period to seek appointment as lead plaintiff of the Lumen Technologies class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Lumen Technologies class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Lumen Technologies class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Lumen Technologies class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.