AT&T Board, Execs Sued for Allegedly Hiding Toxic Cable Risks

AT&T Inc.’s top executives and directors spent more than three years concealing the environmental and health risks associated with lead-covered cables in its network, a shareholder derivative lawsuit says.

Several stock drops followed the revelation in July 2023 that AT&T was among the telecommunications companies with toxic cables leftover from the Bell System, the complaint says. Before then, the company’s leadership had failed to disclose its ownership of the lead-covered cables or any of the risks those cables posed, according to the complaint filed Thursday in US District Court for the District of Delaware.

The company represented to the ...