CenturyLink Strikes $55M Deal To End Investor Class Suit

Law360 (February 2, 2021, 7:03 PM EST) -- A certified class of CenturyLink investors have asked a Minnesota federal judge to greenlight a $55 million settlement to end their lawsuit claiming the telecom company hid its practice of overbilling customers, arguing the deal would help the class avoid the risks of continued litigation.

The state of Oregon and investor Fernando Alberto Vildosola, as representatives for the investor class, told U.S. Magistrate Judge Katherine M. Menendez on Monday that the sum CenturyLink had agreed to pay was an "excellent result" after eight months of discussion and two unsuccessful mediation sessions.

"The settlement before the court is the result of plaintiffs'...

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