On June 5, 2013, Zeldes Haeggquist & Eck, LLP filed a securities class action lawsuit against CenturyLink, Inc.
CenturyLink is the third-largest telecommunications services provider in the United States. On February 13, 2013, the Company announced weaker than expected financial results. The Company also announced a new capital allocation initiative, under which the Company authorized the repurchase of up to $2.0 billion of the Company’s outstanding common stock. At the same time, the Company announced a plan to reduce the Company’s quarterly cash dividend rate from $0.725 to $0.54 per share.
On this news, the price of CenturyLink stock dropped from $41.69 on February 13, 2013, to close at $32.27 on February 14, 2013. We are investigating whether statements made by CenturyLink to the investing public in connection with the above were materially false and misleading at the time they were made.
If you are a CenturyLink shareholder who purchased CenturyLink common stock between August 8, 2012, and February 14, 2013, you may have claims under the securities laws. If you wish to discuss this investigation or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at (619) 342-8000, or by email. There is no cost to you.
To schedule your free initial consultation, contact us online or call (619) 342-8000 today!