Verizon Communications, one of the leading telecommunications companies, is facing a class-action lawsuit for allegedly violating securities laws. The lawsuit was filed by The Klein Law Firm on behalf of shareholders of Verizon Communications Inc. (VZ). The complaint alleges that the company made false and misleading statements and failed to disclose crucial information regarding toxic cables wrapped in lead that Verizon owns.
According to the filed complaint, these lead cables pose significant risks to the health of both Verizon employees and non-employees. It is claimed that Verizon faces potential litigation risk, regulatory risk, and reputational harm due to the presence of these cables throughout the United States. The lawsuit asserts that the company was aware of the damage and risks associated with these cables but failed to disclose them, thereby misleading investors.
The class period for the lawsuit spans from February 4, 2020, to July 26, 2023. Shareholders who suffered financial losses during this period have until October 2, 2023, to petition the court for lead plaintiff status. It is important to note that individuals seeking to recover losses are not required to serve as lead plaintiffs.
Affected shareholders who purchased Verizon securities during the relevant period might be entitled to compensation without having to pay any out-of-pocket fees. To learn more about the lawsuit and explore the potential for recovery, shareholders can contact J. Klein, Esq. at 212-616-4899 or visit the following link: https://www.kleinstocklaw.com/pslra-1/verizon-lawsuit-loss-submission-form?id=43448&from=4.
The Klein Law Firm specializes in representing investors involved in securities litigations related to financial fraud. With expertise in securities law, corporate finance, and commercial litigation, the firm has achieved notable results for their clients since 2011.
This article is for informational purposes only and should not be interpreted as legal advice or a recommendation to take any specific action. Past results achieved by the firm do not guarantee similar outcomes in future cases.
