San Diego, CA -- (SBWIRE) -- 08/14/2023 -- An investor, who purchased shares of AT&T Inc. (NYSE: T), filed a lawsuit over alleged violations of Federal Securities Laws by AT&T Inc..

Investors who purchased a significant amount of shares of AT&T Inc. (NYSE: T) have certain options and for certain investors are short and strict deadlines running. Deadline: September 26, 2023. NYSE: T investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On July 14, 2023, Bloomberg reported that AT&T Inc. faced "potentially high costs" if the Company is required to "clean up contamination due to lead-clad wiring throughout parts of its nationwide network." Bloomberg also reported that, according to a JPMorgan analyst, AT&T has a service area that covers about 40% of US homes plus an extensive long distance network, and that AT&T Inc. therefore has the largest exposure to the potential costs among national carriers.

On July 17, 2023, during market hours, The Wall Street Journal released an article entitled "Environmental Groups Ask EPA to Shield Public From Abandoned Lead Cables", which followed up on a series of exposes showing that "AT&T and other telecom companies have left behind more than 2,000 toxic lead cables on poles, under waterways and in the soil across the U.S.", leaving various spots with lead levels which exceeded EPA safety guidelines. The article also discussed how various environmental groups had requested that the Environmental Protection Agency investigate the matter and remove certain lead-covered cables, and take other action as needed.

On July 26, 2023, the Wall Street Journal reported that the Justice Department and Environmental Protection Agency are investigating whether telecom companies knew of the potential risks posed by the abandoned lead cables. The article stated, in pertinent part, "The Justice Department and Environmental Protection Agency are investigating the potential health and environmental risks stemming from a sprawling network of toxic lead-sheathed telecom cables across the U.S." It highlighted how the EPA had said it takes "the issues raised in the articles very seriously and will move expeditiously under our statutory authorities to protect the public from legacy pollution."

Shares of AT&T Inc. (NYSE: T) declined from $21.53 per share on January 24, 2023, to as low as $13.98 per share on August 07, 2023.

The plaintiff claims that between March 1, 2020 and July 26, 2023, the defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that AT&T owns cables around the country that are highly toxic due to their being wrapped in lead, and which harm Company employees and non-employees alike, that it faces potentially significant litigation risk, regulatory risk, and reputational harm as a result of its ownership of these lead-covered cables and the health risks stemming from their presence around the United States, that it was warned about the damage and risks presented by these cables but did not disclose them as a potential threat to employee safety or to everyday people and communities, and that as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of AT&T Inc. (NYSE: T) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.