A lawsuit was filed on behalf of investors in Verizon Communications Inc. (NYSE:VZ) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/16/2023 -- An investor, who purchased shares of Verizon Communications Inc. (NYSE: VZ), filed a lawsuit over alleged violations of Federal Securities Laws by Verizon Communications Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Verizon Communications Inc. (NYSE: VZ) have certain options and for certain investors are short and strict deadlines running. Deadline: October 2, 2023. NYSE: VZ investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
New York based Verizon Communications Inc., through its subsidiaries, provides communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide.
On July 17, 2023, during market hours, The Wall Street Journal published an article entitled "Environmental Groups Ask EPA to Shield Public From Abandoned Lead Cables", which followed up on a series of exposés showing that "Verizon and other telecom companies have left behind more than 2,000 toxic lead cables on poles, under waterways and in the soil across the U.S.", leaving various spots with lead levels which exceeded Environmental Protection Agency ("EPA") safety guidelines. The article also discussed how various environmental groups had requested that the EPA investigate the matter and remove certain lead-covered cables, and take other action as needed.
Shares of Verizon Communications Inc. (NYSE: VZ) declined from $46.05 per share on August 16, 2022 to as low as $31.25 per share on July 17, 2023.
The plaintiff claims that between February 4, 2020 and July 26, 2023, the defendants made false and/or misleading statements and/or failed to disclose, among other things, that Verizon owns cables around the country that are highly toxic due to being wrapped in lead, and which harm Company employees and non-employees alike, that it faces potentially significant litigation risk, regulatory risk, and reputational harm as a result of its ownership of these lead cables and the health risks stemming from their presence around the United States, that it was warned about the damages and risks presented by these cables but did not disclose that they posed a threat to employee safety, to everyday people, and communities around the country; and (4) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Verizon Communications Inc. (NYSE: VZ) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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92108 San Diego
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.