Everything You Need to Know about the AT&T Class Action Lawsuit

If you suffered losses in AT&T contact AT&T stock loss lawyer Timothy L. Miles about an AT&T lawsuit

​In recent news, a securities class action lawsuit has been filed against AT&T Inc. (NYSE: T), a multinational telecommunications holding company. The lawsuit, captioned Brazinsky v. AT&T Inc., alleges violations of the Securities Exchange Act of 1934 and seeks to represent individuals who purchased or acquired AT&T securities between March 1, 2020, and July 26, 2023 (the "Class Period").

Allegations in the AT&T Class Action Lawsuit

​The AT&T class action lawsuit centers around several key allegations. It claims that throughout the Class Period, AT&T and certain executive officers made false and/or misleading statements and failed to disclose crucial information to investors. The allegations are as follows:

1. Toxic Lead-Covered Cables: AT&T is accused of owning telecommunications cables wrapped in lead across the country, posing significant health risks to both employees and non-employees.
2. Litigation and Regulatory Risk: The lawsuit asserts that AT&T faces potential litigation risk, regulatory risk, and reputational harm due to the presence of lead-covered cables and the associated health risks.
3. Failure to Disclose: AT&T allegedly failed to disclose the damage and risks associated with the lead-covered cables, neglecting to inform employees, the public, and communities about the potential threat to safety.

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These allegations gained significant attention following an article published by The Wall Street Journal on July 9, 2023, titled "America is Wrapped in Miles of Toxic Lead Cables." The article detailed the presence of toxic lead cables laid by telecom companies decades ago, posing hidden health hazards in the present day. It highlighted how AT&T and other telecommunications companies were aware of the risks but failed to disclose them. Consequently, the price of AT&T stock declined.

Further articles by The Wall Street Journal on July 14, 17, and 26, 2023, continued to shed light on the lead cable issue, the health problems faced by AT&T employees, and the regulatory scrutiny faced by AT&T and other telecom companies. These developments led to further declines in the stock price, as investors suffered losses in AT&T stock.

The Lead Plaintiff Process

If you suffered losses in AT&T stock during the Class Period and wish to serve as the lead plaintiff in the class action lawsuit against AT&T, there are important steps to follow. Lead plaintiff motions must be filed with the court no later than September 26, 2023. The lead plaintiff is a representative party who acts on behalf of all other class members in directing the litigation. It is crucial to note that an investor's ability to share in any potential future recovery is not dependent upon serving as the lead plaintiff.

To discuss your legal rights and options, it is advisable to reach out to an AT&T stock loss lawyer who practices in securities fraud cases. They can guide you through the process and provide the necessary legal advice.

Benefits of Serving as Lead Plaintiff in the AT&T Class Action Lawsuit

​Being appointed as the lead plaintiff in the class action against AT&T comes with several advantages and benefits, including:

1. Negotiating Power: As the lead plaintiff, you can actively monitor the class counsel, negotiate more competitive attorney fees, and reduce other litigation costs.
2. Active Involvement: You have the opportunity to manage the litigation by overseeing and monitoring its progress, reviewing important filings, and participating in negotiations relating to any potential settlement.
3. No Financial Risk: Serving as the lead plaintiff does not pose any financial risk. Lead counsel covers all costs and expenses incurred during the prosecution of the case and only receives reimbursement upon a successful settlement or judgment recovery on behalf of the class.
4. Governance Reform Benefits: If you continue to own AT&T stock, serving as the lead plaintiff gives you the potential long-term benefits resulting from governance reform achieved through the litigation.

Therefore, there are numerous advantages to serving as the lead plaintiff in the class action against AT&T, especially if you suffered losses in AT&T stock.

Can I Be Appointed Lead Plaintiff if I Purchased Shares Outside of the Class Period?

It is important to note that only shareholders who purchased or sold AT&T securities during the Class Period are eligible to participate in the AT&T class action lawsuit. If you bought or sold shares outside of this period, you will not be able to be appointed as the lead plaintiff.

Compensation for Lead Plaintiffs and Class Members

Lead plaintiffs and class members may be entitled to recover their losses in the AT&T class action lawsuit. The damages are typically calculated as out-of-pocket losses, representing the difference between the price at which the stock was sold and the price it would have been sold absent any artificial inflation caused by the alleged misrepresentations or omissions. However, it's crucial to consult an AT&T stock loss lawyer who can provide a more detailed explanation of the potential recovery based on your specific circumstances.​

Missing the Lead Plaintiff Deadline

If you purchased AT&T securities during the Class Period but missed the lead plaintiff deadline, don't worry. You will automatically be considered a class member and entitled to share in any potential settlement or recovery. Your ability to recover your losses is not dependent on serving as the lead plaintiff. The sixty-day deadline only applies to those shareholders seeking to be appointed as the lead plaintiff in the AT&T class action lawsuit.

Settlement Process and Objections

​In the event of a settlement in the AT&T class action lawsuit, class members will receive a court-ordered notice providing information about the settlement and instructions on how to file a claim. It is crucial to update your address to ensure you receive the notice. Depending on the settlement terms, you may need to submit additional information, such as documentation proving your purchase of AT&T stock during the Class Period.

If you believe the proposed settlement is not fair, you have the option to object to the settlement. Objections must be filed within the specified timeframe, and the court will consider all timely objections in the class action against AT&T.

Hiring an AT&T Stock Loss Lawyer

​If you suffered losses in AT&T stock and believe you are a member of the class in the AT&T class action lawsuit, it is advisable to seek the assistance of an AT&T stock loss lawyer. They are well-versed in the complex laws governing the securities industry and litigation and specialize in representing individual investors who have been victims of fraud or have disputes with investment professionals.

While regulatory bodies play a vital role in protecting investors, consulting with a securities lawyer can help you understand your rights and legal options. They can assist in navigating the class action process and fighting to recover your damages in the AT&T lawsuit.

Conclusion

The AT&T class action lawsuit presents an opportunity for investors who suffered losses in AT&T stock between March 1, 2020, and July 26, 2023, to seek potential compensation for their damages. By understanding the allegations, lead plaintiff process, benefits of serving as lead plaintiff, and the settlement process, affected investors can make informed decisions about their legal rights and options.

If you believe you are eligible to participate in the AT&T class action lawsuit, it is crucial to consult with an experienced AT&T stock loss lawyer who can provide personalized advice and guide you through the legal proceedings.

CONTACT AN AT&T STOCK LOSS LAWYER TODAY IF YOU SUFFERED IN LOSSES AT&T STOCK ABOUT AN AT&T CLASS ACTION LOSSES LAWSUIT

​If you suffered losses in AT&T stock, contact AT&T stock loss lawyer Timothy L. Miles today for a free case evaluation about a class action against AT&T.  Call today and see what an AT&T stock loss lawyer can do for you.

AT&T STOCK LOSS LAWYER TIMOTHY L. MILES

​​​Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing  shareholders, employees,  and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb ratedattorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
​Email: [email protected]