Case Page

 

Case Status:    ONGOING    
On or around 06/25/2018 (Ongoing date of last review)

Filing Date: June 21, 2017

According to the law firm press release, CenturyLink, Inc. provides various communications services to residential, business, wholesale, and governmental customers in the United States. It operates through two segments, Business and Consumer. The Company offers broadband, Ethernet, colocation, video entertainment and satellite digital television services.

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: (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 August 23, 2017, this case was transferred to the Western District of Louisiana and docketed under 3:17-cv-01065. On October 19, the transferred case was consolidated into lead case 17-CV-01005.

Lead Plaintiff and Counsel were appointed on October 20, 2017.

On February 1, 2018, this case was transferred to the District of Minnesota and docketed under 18-CV-00298. On April 20, the Court issued an Order granting Lead Plaintiff's Motion to consolidate cases. On May 15, the Court issued an Order consolidating cases under Docket 18-CV-00296. Lead Plaintiff filed a consolidated Complaint on June 25.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CTL
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.
COURT: D. Minnesota
DOCKET #: 17-CV-04695
JUDGE: Hon. Paul G. Gardephe
DATE FILED: 06/21/2017
CLASS PERIOD START: 02/27/2014
CLASS PERIOD END: 06/15/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: D. Minnesota
DOCKET #: 18-CV-00296
JUDGE: Hon. Paul G. Gardephe
DATE FILED: 06/25/2018
CLASS PERIOD START: 03/01/2013
CLASS PERIOD END: 07/12/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (New New York)
    1251 Avenue of the Americas, Bernstein Litowitz Berger & Grossmann LLP (New New York), NY 10020
    (212) 554-1400 (212) 554-1448 ·
  2. Lockridge Grindal Nauen P.L.L.P.
    100 Washington Avenue S. Suite 2200, Lockridge Grindal Nauen P.L.L.P., MN 55401
    612.339.6900 612.339.6900 ·
  3. Stoll, Stoll, Berne, Lokting & Schlachter
    209 South West Oak Street, Stoll, Stoll, Berne, Lokting & Schlachter, OR 97204
    503.227.1600 503.227.6840 · info@ssbls.com
No Document Title Filing Date
No Document Title Filing Date