NEW ORLEANS, March 10, 2023 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 2, 2023 to file lead plaintiff applications in a securities class action lawsuit against Lumen Technologies, Inc. (NYSE: LUMN), if they purchased the Company's shares between September 14, 2020 and February 7, 2023, inclusive (the "Class Period"). This action is pending in the United States District Court for the Western District of Louisiana.
Get Help
Lumen investors should visit us at or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Lumen and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 2, 2022, the Company revealed delays in the buildout of its fiber optic cable services, branded as Quantum Fiber, and that it was "not yet where we want to be" with "much more to do." On this news, shares of Lumen fell more than 17.7%, from a close of $7.05 per share on November 2, 2022, to a close of $5.80 on November 3, 2022.
Then, on February 7, 2023, the Company disclosed that, contrary to prior representations, work on Quantum Fiber had hit "more of a stop button than a pause button" and that its "location and subscriber results were impacted by the pause we had in place." On this news, shares of Lumen fell more than 20.8%, from a close of $4.99 per share on February 7, 2023, to a close of $3.95 on February 8, 2023.
The case is Voigt v. Lumen Technologies, Inc., No. 23-cv-00286.
About ClaimsFiler
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit .
SOURCE ClaimsFiler