Lumen Sued Over Lead Cable Misrepresentations Before Stock Drops

Lumen Technologies Inc. and its top executives allegedly misled investors about the company’s lead-covered cable infrastructure, as well as associated risks to the environment, employees, and the general public, a proposed class action says.

The telecommunications company spent more than four years concealing details about the toxic cables left over from the Bell System network, thousands of miles of which Lumen allegedly took over, according to the complaint filed Sept. 15 in the US District Court for the Western District of Louisiana.

Lumen, formerly known as CenturyLink, allegedly misrepresented its copper cable network by omitting what percentage of that network ...