Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, May 02, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Lumen Technologies, Inc. (“Lumen” or “the Company”) (NYSE: LUMN) investors that a lawsuit filed on behalf of investors that purchased Lumen securities (NYSE: LUMN) between September 14, 2020, and February 7, 2023, (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
According to the Complaint, the Defendants are accused of making false and/or misleading statements by misrepresenting and failing to disclose important negative information related to the Company's business, operations, and prospects. The Defendants were aware of these facts or deliberately disregarded them. The false and/or misleading statements and/or omissions made by Defendants include the following: (1) obstacles were hindering the Company's ability to invest in and expand its Quantum Fiber brand; (2) Quantum Fiber was not making progress as claimed to the public; (3) the Company's management was reevaluating its strategic priorities and had halted plans to quickly expand the Quantum Fiber brand; and (4) due to the Company's decision to postpone the expansion of Quantum Fiber, its results and metrics were negatively impacted, and the scaling up of Quantum Fiber would not occur until, at the earliest, the end of 2023.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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