A securities class action has been filed in the USDC – W.D.PA. against Verizon Communications Inc. (VZ) (“Verizon” or the “Company”) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Verizon securities between February 4, 2020 through July 26, 2023, both dates inclusive (the “Class Period”).

The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that:

• Verizon owns cables around the country that are highly toxic due to being wrapped in lead, and which harm Company employees and non-employees alike;
• it faces potentially significant litigation risk, regulatory risk, and reputational harm as a result of its ownership of these lead cables and the health risks stemming from their presence around the United States;
• it was warned about the damages and risks presented by these cables but did not disclose that they posed a threat to employee safety, to everyday people, and communities around the country; and
• as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you purchased Verizon securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

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Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.