SAN DIEGO, March 03, 2023 (GLOBE NEWSWIRE) — Shareholder Rights Law Firm Johnson Fistula, LLP announces that a class action lawsuit has been filed on behalf of investors of Lumen Technologies, Inc. LUMIN. The class action is being brought on behalf of stockholders who purchased securities of Lumen Technologies between September 14, 2020 and February 7, 2023 (inclusive) (the “Class Period”). Investors are hereby notified that they have until May 2, 2023 to request the court to appear as lead plaintiff in this lawsuit.

What actions can I take at this time? If you have suffered a loss and would like to learn more about whether you are a Lead Plaintiff, please contact Jim Baker (jimb@johnsonfistula.com) via email or phone at 619-814-4471. When emailing, please include your phone number.

To participate in this promotion you can click on the following link or copy and paste it into a browser:

https://www.johnsonfistel.com/investigations/lumen-technologies-inc

There are no costs or obligations for you.

According to the lawsuit, defendants alleged during the class action that, among other things, Lumen has “invested heavily in our consumer fiber business” and “aggressively taken market share in our small business segment.” Defendants also stated that “we continue to expand our quantum fiber footprint and increase our market penetration” and “we have no capital constraints. So as we continue to improve our market penetration and performance, we will continue to expand our footprint and we believe we have a long runway for growth in – within lumens in Quantum Fiber.” On February 9, 2022, the defendants began telling investors, Lumen’s expansion into small and medium-sized businesses and residential fiber services is slower than previously thought.

A lead plaintiff will act on behalf of all other group members in leading Lumen Technologies’ class action lawsuit. The lead plaintiff may select a law firm of its choice to conduct the class action. An investor’s ability to share a potential future recovery of the Lumen…