CenturyLink Execs Inflated Stock, Investor Says

Law360, New York (July 23, 2013, 1:29 PM EDT) -- CenturyLink Inc.’s top brass were hit with a shareholder derivative suit Monday in Louisiana federal court accusing the officers and directors of artificially inflating the value of the telecommunications company’s stock and unloading $7.4 million in shares before a dividend slash tanked stock prices by 22 percent.

Investor Cullen Rosen claims CenturyLink executives and directors, including CEO Glen F. Post III and former U.S. Rep Dick Gephardt, D-Mo., now a board member, falsely represented through December that CenturyLink had enough cash flow to continue paying a...
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Case Information

Case Title

In re: Centurylink Inc Shareholder Derivative Action


Case Number

3:13-cv-02318

Court

Louisiana Western

Nature of Suit

Stockholders Suits

Judge

Elizabeth E Foote

Date Filed

July 22, 2013

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