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...
To view the full article, register now.

Documents

Related

Sections

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

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.