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Level 3 Communications, Inc.

Case Summary

Level 3 Communications, Inc. Securities Litigation

Case Summary

Case Status:    SETTLED
On or around 04/13/2018 (Ongoing date of last review)

Filing Date: January 17, 2017

According to a press report, the Complaint alleges the shareholders claim that the company violated federal securities laws when it did not perform a market check or contact other interested parties before accepting the October cash and stock offer from CenturyLink. It also failed to include management projections and valuation documents that the company relied on when it accepted the offer.

On February 9, 2017, the Parties reached an agreement-in-principle on the structure of a settlement of the Action, which was set forth in a Memorandum of Understanding (the “MOU”) dated February 9, 2017. Pursuant to the MOU, Defendants agreed that Level 3 would disclose certain additional information concerning the Merger (the “Supplemental Disclosures”) to Level 3 shareholders in advance of the shareholder vote.

Company & Securities Information

Defendant: Level 3 Communications, Inc.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: LVLT
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

James Amedee, et al. v. Level 3 Communications, Inc., et al.

COURT: D. Colorado
DOCKET #: 17-CV-00155
JUDGE: Hon. Scott T. Varholak
DATE FILED: 01/17/2017
CLASS PERIOD START: 10/31/2016
CLASS PERIOD END: 01/17/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. WeissLaw LLP
    551 Fifth Avenue, Suite 1600, WeissLaw LLP, NY 10176
    212.682.3025 212.682-3010 · info@wllawny.com
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint and Jury Demand 01/17/2017
2 Stipulation of Settlement 03/28/2018
3 U.S. District Court Civil Docket 04/13/2018
 
 

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