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LUMN LAWSUIT: The Law Offices of Vincent Wong Notify Investors of a Class Action Lawsuit Involving Lumen Technologies, Inc.
March 29, 2023 12:07 PM EDT | Source: Vincent Wong Esq.
New York, New York--(Newsfile Corp. - March 29, 2023) - The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased Lumen Technologies, Inc. ("Lumen") (NYSE: LUMN). This lawsuit is on behalf of all persons or entities who purchased or otherwise acquired Lumen common stock between September 14, 2020, and February 7, 2023, inclusive.
If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/lumen-class-action-loss-submission-form?prid=37857&wire=5
Allegations against LUMN include that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) various headwinds were impeding the Company's ability to invest in and grow its Quantum Fiber brand; (ii) Lumen's Quantum Fiber business was not progressing as was represented to the investing public; (iii) Lumen's management was reassessing its strategic priorities and had placed a hold on the plans to quickly scale up the Quantum Fiber brand; and (iv) as a result of Lumen's decision to delay expansion of Quantum Fiber, the Company's results and metrics were negatively impacted and the scaling up of Quantum Fiber would not occur until, at the earliest, the end of 2023.
If you suffered a loss in Lumen you have until May 2, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160400