The information contained on this website is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses. Because this website provides just a summary, you should review the Notice for additional details.
The Court-appointed Lead Plaintiff and Class Representative the State of Oregon by and through the Oregon State Treasurer and the Oregon Public Employee Retirement Board, on behalf of the Oregon Public Employee Retirement Fund, and named plaintiff and Class Representative Fernando Alberto Vildosola, as trustee for the AUFV Trust U/A/D 02/19/2009 (collectively, “Plaintiffs”) have reached a proposed settlement of the Action for $55,000,000 in cash that, if approved, will resolve all claims in the Action (the “Settlement”).
If approved by the Court, the proposed Settlement would resolve claims in a pending securities class action brought by investors alleging, among other things, that defendants CenturyLink, Glen F. Post, III, R. Stewart Ewing, Jr., David D. Cole, Karen Puckett, Dean J. Douglas, and G. Clay Bailey (collectively, “Defendants”) violated the federal securities laws by making false and misleading statements regarding CenturyLink’s business.
The Settlement Fairness Hearing set by the Court to consider final approval of the Settlement, the proposed Plan of Allocation, and Lead Counsel's motion for attorneys' fees and expenses is scheduled to be held before the Court on July 20, 2021 at 11:00 a.m. CDT. Please Note: The date and time of the Settlement Fairness Hearing may change without further written notice to the Class. In addition, the ongoing COVID-19 health emergency is a fluid situation that creates the possibility that the Court may decide to conduct the Settlement Fairness Hearing by telephonic or video conference, or otherwise allow Class Members to appear at the hearing by phone or video, without further written notice to the Class. In order to determine whether the date and time of the Settlement Fairness Hearing have changed, or whether Class Members must or may participate by phone or video, it is important that you monitor the Court’s docket and this website, before making any plans to attend the Settlement Fairness Hearing. Any updates regarding the Settlement Fairness Hearing, including any changes to the date or time of the hearing or updates regarding in-person or telephonic/video appearances at the hearing, will be posted to this website. Also, if the Court requires or allows Class Members to participate in the Settlement Fairness Hearing by telephone or video conference, the information needed to access the conference will be posted to this website.
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the Settlement. The Class consists of:
All persons and entities that purchased or otherwise acquired publicly traded CenturyLink common stock or 7.60% Senior Notes due September 15, 2039 during the period from March 1, 2013 through July 12, 2017, inclusive, and who were damaged thereby, except for certain persons and entities who are excluded from the Class by definition.
Please read the Notice to fully understand your rights and options.
If you are a member of the Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form by mail postmarked no later than August 13, 2021, or online using this website, no later than August 13, 2021.
Payments to eligible claimants will be made only if the Court approves the Settlement and a plan of allocation, and only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
|IMPORTANT DATES AND DEADLINES:|
|AUGUST 13, 2021
CLAIM FILING DEADLINE
|To be eligible to receive a payment from the Settlement, you must mail the Claim Form and supporting documentation, postmarked no later than August 13, 2021, or submit it electronically no later than August 13, 2021, in accordance with the instructions in the Notice and Claim Form.|
|JUNE 29, 2021
|To exclude yourself from the Class, you must submit a written request for exclusion so that it is received no later than June 29, 2021, in accordance with the instructions in the Notice.|
|JUNE 29, 2021
|Any objections to the proposed Settlement, the proposed Plan of Allocation, or the request for an award of attorneys’ fees and Litigation Expenses, must be received no later than June 29, 2021, in accordance with the instructions in the Notice.|
|JULY 20, 2021, at 11:00 a.m. CDT
SETTLEMENT FAIRNESS HEARING
|To attend the Settlement Fairness Hearing and/or ask to speak in Court about the fairness of the Settlement, see the instructions in the Notice. The Settlement Fairness Hearing will be held on July 20, 2021, at 11:00 a.m. CDT before the Honorable Michael J. Davis at the United States District Court for the District of Minnesota, Courtroom 13E of the Diana E. Murphy United States Courthouse, 300 South Fourth Street, Minneapolis, MN 55415, or by telephone or video conference (in the discretion of the Court).|