| COMPANY |
CenturyLink, Inc. |
| COURT |
United States District Court for the District of Minnesota |
| CASE NUMBER |
18-cv-00296 |
| JUDGE |
The Hon. Michael J. Davis |
| CLASS PERIOD |
March 1, 2013 and July 12, 2017 |
| SECURITY TYPE |
Common Stock or 7.60% Senor Notes due September 15, 2039 |
Case Background:
On June 22, 2017, the initial complaint in this securities class action was filed against CenturyLink, Inc. (“CenturyLink” or the “Company”), and certain of CenturyLink’s directors, officers and underwriters, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all persons and entities who purchased or otherwise acquired publicly-traded CenturyLink common stock during the period between March 1, 2013 to July 12, 2017, both dates inclusive (the “Class Period”), and who were damaged thereby.
The complaint alleges CenturyLink publicly issued materially false and misleading statements and omitted material facts necessary to make Defendants’ statements not false or misleading, regarding its unlawful business practices and its failure to comply with applicable laws and regulations. Specifically, CenturyLink incentivized unethical and unlawful behavior, including by allowing CenturyLink employees to add services, lines, and accounts for customers without their permission, resulting in millions of dollars in unauthorized charges to CenturyLink customers. Further, contrary to CenturyLink’s representations, the Company’s revenues and earnings growth were unsustainable because they were dependent upon improper and illegal conduct that subjected the Company to heightened regulatory scrutiny, governmental action, and significant sanctions that could severely curtail its business.
Current Status of Case:
On July 21, 2021, the Court approved a Settlement in the amount of $55,000,000.00. This action has concluded.
The deadline to file a claim is August 13, 2021. If you have any questions or need further information about this settlement, you may go to the following website, https://www.centurylinksecuritieslitigation.com/, or you can contact the claims administrator, Epiq Global, Inc. at 1-800-726-0952.
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: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.