On or around 06/05/2019 (Ongoing date of last review)
Filing Date: March 06, 2019
According to the Complaint, CenturyLink purports to provide various communications services to residential, business, wholesale, and governmental customers primarily in the United States.
The Complaint alleges that during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) CenturyLink had undisclosed material weaknesses in its internal controls over revenue recording processes and the procedures for measuring fair value of assets and liabilities assumed in connection with its Level 3 Communications, Inc. acquisition; (2) consequently, CenturyLink would delay the filing of its Form 10-K for the fiscal year ended December 31, 2018 despite initially reporting those financial results in a press release dated February 13, 2019; and (3) as a result, CenturyLink’s public statements were materially false and misleading at all relevant times.
On June 5, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel.
Company & Securities Information
Defendant: CenturyLink, Inc.
Industry: Communications Services
Headquarters: United States
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.
First Identified Complaint
James Caliendo, et al. v. CenturyLink, Inc., et al.