ATLANTA, GA – – (Globe Newswire – March 6, 2023) – – Holzer & Holzer, LLC informs investors that a class action lawsuit has been filed against Lumen Technologies, Inc. (“Lumen” or the “Company”) (NYSE: LUMN). The lawsuit alleges Lumen made materially false and/or misleading statements and/or failed to disclose material adverse facts regarding its business, operations, and prospects, including: (i) various headwinds were impeding the Company’s ability to invest in and grow its Quantum Fiber brand; (ii) Quantum Fiber 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 bought shares of Lumen between September 14, 2020 and February 7, 2023 and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at firstname.lastname@example.org or Joshua Karr, Esq. at email@example.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at https://holzerlaw.com/case/lumen/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is May 2, 2023.
Lead Plaintiff Deadline Has Passed
May 2, 2023