Lumen Lead Cable Disclosure Suit Merits Revival, Investors Say

Claims that Lumen Technologies Inc. misled the securities market about its lead-tainted telecommunications infrastructure should be reinstated, investors said in an appellate brief.

The allegations shouldn’t have been snuffed out at pleadings stage of the case, lead plaintiff Christine Glauber and other investors told the US Court of Appeals for the Fifth Circuit on Monday. Whether “the public knew about Lumen’s lead cables is, at best, a hotly-contested question of fact that cannot be resolved at this stage,” they said.

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