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In re: Centurylink Inc Shareholder Derivative Action
Case Number:
3:13-cv-02318
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
Companies
Sectors & Industries:
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April 21, 2015
CenturyLink Dividend-Cut Litigation Sinks On Scienter
A Louisiana federal judge threw out claims Tuesday that telecom CenturyLink Inc. misrepresented the safety of its chunky investor payouts — and top brass unlawfully dumped their shares — before a dividend cut, agreeing with a magistrate judge who found plaintiffs hadn't adequately pled the defendants knew they were making false statements.
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July 23, 2013
CenturyLink Execs Inflated Stock, Investor Says
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.