INVESTOR NOTICE: Lumen Technologies, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - LUMN

Then, on November 2, 2022, Lumen revealed further delays in the Quantum Fiber build, acknowledging that Quantum Fiber was "not yet where we want to be" and that Lumen has "much more to do." Lumen further revealed that it "slowed some of [its] [digital] transformation[s]" while undertaking a series of divestiture transactions. On this news, Lumen's stock price declined nearly 18%.

Finally, on February 7, 2023, Lumen revealed that work on Quantum Fiber had hit the "stop button" and acknowledged that its "location and subscriber results were impacted by the [Quantum Fiber] pause we had in place." On this news, Lumen's stock price declined nearly 21%, further damaging investors. 

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Lumen common stock during the Class Period to seek appointment as lead plaintiff of the Lumen class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Lumen class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Lumen class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Lumen class action lawsuit. 

ABOUT ROBBINS GELLER: Robbins Geller is one of the world's leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs' firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

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Contact:
            Robbins Geller Rudman & Dowd LLP 
            655 W. Broadway, Suite 1900, San Diego, CA 92101 
            J.C. Sanchez, 800-449-4900 
            jsanchez@rgrdlaw.com 

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SOURCE Robbins Geller Rudman & Dowd LLP