NEW YORK, March 12, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of CenturyLink, Inc. (NYSE: CTL) from May 10, 2018 through March 4, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for CenturyLink investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than May 6, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation http://zhanginvestorlaw.com/join-action-form/?slug=centurylink-inc&id=1780 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.
According to the lawsuit, 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 When the true details entered the market, the lawsuit claims that investors suffered damages.
Zhang Investor Law represents investors worldwide.
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