Lumen Escapes Investor Lawsuit Over Lead Cable, ESG Statements

Lumen Technologies Inc. investors can’t proceed with a proposed class action alleging the telecommunications company and its leaders misled them about its lead-covered cable infrastructure, a federal court ruled.

Judge Terry A. Doughty of the US District Court for the Western District of Louisiana on Monday adopted a magistrate judge’s recommendation to dismiss the case with finality. The magistrate’s report, issued March 14, concluded that none of the challenged statements—including those touting environmental, safety, and health compliance initiatives—were false when made.

• The suit was among several against telecom companies over allegedly toxic, often buried, lead cable inherited from the former ...