An investigation on behalf of current long term investors in Lumen Technologies, Inc. (NYSE:LUMN) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 06/02/2023 -- Certain directors of Lumen Technologies, Inc are under investigation over potential breaches of fiduciary duties.
Investors who are current long term investors in Lumen Technologies, Inc. (NYSE: LUMN) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: LUMN stocks follows a lawsuit filed against Lumen Technologies, Inc. over alleged securities laws violations. The investigation on behalf of long term investors in NYSE: LUMN stocks, concerns whether certain Lumen Technologies, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the defendants made false and/or misleading statements and/or failed to disclose that various headwinds were impeding Lumen's ability to invest in and grow its Quantum Fiber brand, that Quantum Fiber was not progressing as was represented to the public, that 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 that as a result of Lumen's decision to delay expansion of Quantum Fiber, Lumen'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.
Those who purchased shares of Lumen Technologies, Inc. (NYSE: LUMN) 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.