NEW YORK, July 31, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own securities of AT&T Inc. (NYSE: T)?
- Did you purchase your securities between March 1, 2020 and July 26, 2023, inclusive?
- Did you lose money in your investment in AT&T Inc.?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of AT&T Inc. (“AT&T” or the “Company”) (NYSE: T) between March 1, 2020 and July 26, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the District of New Jersey and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired AT&T securities, and/or would like to discuss your legal rights and options please visit AT&T Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
The Complaint alleges that Defendants made materially false and misleading statements throughout the Class Period. Specifically, Defendants failed to disclose that: (1) AT&T owns cables around the country that are highly toxic due to their being wrapped in lead, and which harm Company employees and non-employees alike; (2) AT&T faces potentially significant litigation risk, regulatory risk, and reputational harm as a result of its ownership of these lead-covered cables and the health risks stemming from their presence around the United States; and (3) AT&T was warned about the damage and risks presented by these cables but did not disclose them as a potential threat to employee safety or to everyday people and communities.
On July 26, 2023, after the market closed, The Wall Street Journal released an article entitled “Justice Department and EPA Probe Telecom Companies Over Lead Cables”. The article stated, in pertinent part: “The Justice Department and Environmental Protection Agency are investigating the potential health and environmental risks stemming from a sprawling network of toxic lead-sheathed telecom cables across the U.S. The Justice Department’s civil inquiry, by the U.S. attorney’s office for the Southern District of New York, is in preliminary stages and focuses partly on whether telecom companies had knowledge of the potential risks to their workers and future environmental impact when they left behind the lead cables, according to a person familiar with the inquiry.”
On this news, AT&T’s stock price fell $0.38 per share to close at $14.51 per share on July 27, 2023.
If you wish to serve as lead plaintiff, you must move the Court no later than September 26, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired AT&T securities, and/or would like to discuss your legal rights and options please visit AT&T Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
