Investors of Lumen Technologies LUMN Urged to Secure Counsel by Rosen Law Firm Before Imminent Deadline

Rosen Law Firm, recognized for its global advocacy for investor rights, has issued a reminder for purchasers of Lumen Technologies, Inc. LUMN securities. Shareholders who bought stocks between March 11, 2019, and July 14, 2023, are alerted to the fast-approaching deadline of November 14, 2023, to apply as the lead plaintiff in a securities class action.

Entitlement to Compensation

Investors who acquired LUMN shares during the specified period may be entitled to monetary compensation. This can be claimed without the necessity of incurring any out-of-pocket fees, as Rosen Law Firm operates on a contingency fee basis.

Steps to Join the Class Action

For those looking to join the class action lawsuit against Lumen Technologies, prompt steps are recommended. Investors are directed to contact Phillip Kim, Esq. at Rosen Law Firm for further information on the proceedings. It's critical to note that the deadline to move the court to serve as the lead plaintiff is November 14, 2023, and investors need to act accordingly.

Experience and Expertise of Rosen Law Firm

When choosing legal representation, Rosen Law Firm stands out with its distinguished track record of successful leadership in securities class actions. Unlike certain firms that simply refer out class action work, Rosen Law Firm is deeply involved in the actual litigation process. The firm prides itself on its global representation of investors, focusing on securities class actions and shareholder derivative litigation. With a history of impressive outcomes, including the largest-ever securities class action settlement against a Chinese company, Rosen Law Firm is noted for recovering substantial sums for investors—a tally exceeding $438 million in 2019 alone. Founding partner Laurence Rosen has been recognized as a 'Titan of Plaintiff's Bar' by law360, exhibiting the firm's esteemed position in the legal community.

Details of the Lawsuit Against Lumen Technologies

The lawsuit alleges that Lumen Technologies misrepresented and failed to disclose certain critical information. Notably, Lumen is accused of owning thousands of miles of lead-wrapped cables within the U.S., a material recognized as a hazardous neurotoxin. These cables allegedly present substantial environmental and public health risks, failed disclosures which reportedly exposed the company to increased chances of regulatory scrutiny and legal and reputational damage. The crux of the lawsuit is that Lumen's failure to disclose the true state of affairs surrounding these cables led to investors suffering losses when these facts eventually emerged. The accuracy and reliability of Lumen's public statements during the class period are hereby called into question, leading to the demand for appropriate compensation for affected shareholders.

Selecting Counsel and Legal Representation

Purchasers of LUMN stock who are assessing their options can appoint their own legal counsel or join the current class action as an absent class member at this stage. Until a class is certified, shareholders are not represented by counsel unless they actively retain one. It should be emphasized that potential recovery is not contingent on being named the lead plaintiff.

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