LUMEN TECHNOLOGIES CLASS ACTION LAWSUIT: 6 frequently asked questions

If you suffered losses in Lumen Technologies stock contact Lumen Technologies stock loss lawyer Timothy L. Miles

A securities class action lawsuit has been filed against Lumen Technologies, Inc. (NYSE: LUMN), formerly known as CenturyLink, Inc., between the dates of March 11, 2019 and July 14, 2023 (the "Class Period"). The suit, McLemore v. Lumen Technologies, Inc. f/k/a CenturyLink, Inc., No. 23-cv-01290 (W.D. La.), accuses the company and certain executive officers of violating the Securities Exchange Act of 1934.
​
Those who have sustained losses in their Lumen Technologies stock and would like to serve as a lead plaintiff in the class action lawsuit are encouraged to provide their information. Additionally, they can reach out to Lumen Technologies Loss Lawyer Timothy L. Miles by calling 855/846-6529 or sending an email to [email protected] or submitting a contact form. All lead plaintiff motions for the Lumen Technologies class action lawsuit must be filed with the court by November 14, 2023.

Read on for answers to six frequently asked questions about the Lumen Technologies class action lawsuit.

what are the ALLEGATIONS IN THE LUMEN TECHNOLOGIES CLASS ACTION LAWSUIT?

​The Lumen Technologies class action lawsuit alleges that Lumen Technologies is one of multiple telecommunications companies that inherited the Bell Telephone Company’s (“Bell System”) telecom cables following the breakup of the Bell System’s telecommunications monopoly in 1984.

​The Lumen Technologies class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Lumen Technologies owned and/or still owns thousands of miles of cables wrapped in lead, a known neurotoxin, within the U.S.; (ii) this has harmed and posed the risk of further harming the environment, exposed Lumen Technologies employees and the general public, thereby posing a significant public health risk and environmental pollution risk; (iii) Lumen Technologies was on notice about the damage and risks presented by these lead-covered cables but did not disclose them as a potential threat to everyday people and communities, as well as failed to provide adequate lead training to employees; and (iv) all of the above subjected Lumen Technologies to a heightened risk of governmental and regulatory oversight and enforcement action, as well as legal and reputational harm.

IF I SUFFERED LOSSES IN LUMEN TECHNOLOGIES STOCK, WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE LUMEN TECHNOLOGIES CLASS ACTION LAWSUIT?

Serving as a Lead Plaintiff in the Lumen Technologies class action lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit of being involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Lumen Technologies if you suffered losses in Lumen Technologies​​ stock. ​

HOW WAS THE CLASS PERIOD DETERMINED IN THE LUMEN TECHNOLOGIES CLASS ACTION LAWSUIT?

In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure.  
 
In order to be a part of the class in the Lumen Technologies class action lawsuit, you must have suffered losses in Lumen Technologies stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Lumen Technologies​​.  

HOW DO I KNOW IF I AM A MEMBER OF THE CLASS IN THE LUMEN TECHNOLOGIES CLASS ACTION LAWSUIT?

​​If you purchased shares during the class period and suffered losses in Lumen Technologies stock, then you are most likely a member of the class in the Lumen Technologies class action lawsuit and may participate in the Lumen Technologies class action lawsuit since you suffered losses in Lumen Technologies​ stock.

IF I SUFFERED LOSSES IN LUMEN TECHNOLOGIES STOCK, HOW MUCH CAN I GET OUT OF THE LUMEN TECHNOLOGIES CLASS ACTION LAWSUIT?

​​​In a securities fraud class action lawsuit such as the Lumen Technologies class action lawsuit, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in Lumen Technologies stock. Contact a Lumen Technologies stock loss lawyer who can explain your losses in greater detail. 

CAN I BE APPOINTED LEAD PLAINTIFF IN THE LUMEN TECHNOLOGIES CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?

No.  Even if you suffered losses in Lumen Technologies stock, if you purchased securities outside of the Class period, you will not be able to participate in the Lumen Technologies class action lawsuit.

CONTACT A LUMEN TECHNOLOGIES STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN LUMEN TECHNOLOGIES STOCK ABOUT A LUMEN TECHNOLOGIES CLASS ACTION LAWSUIT

If you suffered losses in Lumen Technologies stock, contact Lumen Technologies stock loss lawyer Timothy L. Miles today for a free case evaluation about a Lumen Technologies class action lawsuit. Call today and see what a Lumen Technologies stock loss lawyer could do for you if you suffered losses in Lumen Technologies​​ stock.

Lumen Technologies 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]