The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Western District of Louisiana on behalf of investors who purchased Lumen Technologies, Inc. (NYSE: LUMN) common stock between September 14, 2020, and February 7, 2023.
According to the Lumen lawsuit, throughout the Class Period defendants made 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.
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