Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased CenturyLink, Inc. (“CenturyLink” or the “Company”) (NYSE: CTL) stock between August 8, 2012 and February 14, 2013.
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The complaint alleges that defendants made materially false and misleading statements concerning the Company’s dividend cut. In particular, it is alleged that CenturyLink misled investors regarding the strength of its free cash flow, which is a significant factor in the Company’s ability to maintain its dividend levels. It is further alleged that as a result of the Company’s misleading statements, CenturyLink stock traded at an artificially inflated price.
On February 13, 2013, CenturyLink announced it would cut its dividend by over a quarter, from 72.5 cents to 54 cents per share. The Company also authorized the repurchase of up to $2 billion of the Company’s outstanding common stock. Upon this news, shares of CenturyLink fell from a close of $41.69 on the day of the announcement to a close of $32.27 the following day.
If you suffered a loss in CenturyLink you have until August 5, 2013
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. To obtain additional information, contact Joseph E. Levi, Esq. either via email at
or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.