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BOSTON, March 04, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether CenturyLink, Inc. (“CenturyLink” or the “Company”) (NYSE: CTL) and certain of its officers and directors violated federal securities laws.
On March 4, 2019, CenturyLink asked the Securities and Exchange Commission to extend the deadline for filing its 2018 annual report. CenturyLink stated that the reason for the delay in filing was due to a "material weakness" it found in internal controls linked to recording revenue at Colorado-based Level 3 Communications, which it purchased for around $34 billion in 2017. CenturyLink also stated that there were problems with measuring the fair value of assets and liabilities.
On this news, CenturyLink shares fell more than 7% in intraday trading.
If you have purchased or otherwise acquired CenturyLink securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Dan DeMaria at (888) 868-2385, by email at email@example.com, or by visiting http://shareholder.law/cases/?case=centurylink.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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