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Level 3 Communications Class Action Filed
Law Firm News/Colorado |
2009/02/10 09:58
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Denver-based Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the District of Colorado on behalf of investors of Level 3 Communications, Inc. ("Level 3" or the "Company") (Nasdaq:LVLT) who purchased the Company's common stock between February 8, 2007, and October 23, 2007, inclusive (the "Class Period"). The complaint charges Level 3 and certain of its senior officers with violations of the federal securities laws.
If you wish to serve as a lead plaintiff, you must move the Court no later than April 6, 2009. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Jeffrey A. Berens, Esq., at (888) 300-3362, (303) 861-1764, or via email at jeff@dyerberens.com. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint alleges that, during the Class Period, defendants made false and misleading statements to the market about the Company's business, operations and earnings prospects. For example, defendants failed to disclose that: (a) the Company was experiencing problems integrating its numerous acquisitions; and (b) the Company's integration problems caused Level 3 to experience severe provisioning problems which were negatively impacting revenue growth. As a result of defendants' false statements, Level 3 stock traded at artificially inflated prices and Company insiders collectively realized more than $3.5 million in proceeds from the sale of their personally-held Level 3 stock.
On October 23, 2007, Level 3 issued a press release announcing its financial results for the third quarter of 2007, the period ending September 30, 2007. The Company reported that its core communications services revenue was negatively impacted by provisioning issues. On this news, Level 3's stock price dropped to close at $3.18 per share on October 24, 2007, on extremely heavy trading volume.
Plaintiff seeks to recover damages on behalf of purchasers of Level 3 common stock during the Class Period. The plaintiff is represented by Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com. |
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Holme Roberts & Owen LLP Signs Long-Term Lease Renewal for Headquarters in Iconic Wells Fargo Center
Law Firm News/Colorado |
2009/01/16 13:44
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International law firm Holme Roberts & Owen LLP (HRO) announced today the renewal of its office space lease at Denver’s iconic Wells Fargo Center. The new agreement with building owner Maguire Properties runs until 2022 and encompasses a total of 108,600 square feet of Class A office space on five floors.
"HRO is delighted to renew its commitment to the Wells Fargo Center, one of Denver’s most iconic business addresses," said HRO Chief Operating Officer Patty Fontneau. "The long-term lease renewal underscores HRO’s and the Wells Fargo Center’s shared commitment as driving forces in the Denver, and Colorado, business community. The new agreement will contribute to HRO’s healthy and competitive advantage for many years to come."
HRO also announced that the firm intends to modernize the five floors the firm currently occupies within the 52-story building and build a multipurpose communications center that will increase capacity for hosting best-of-class client service and educational programs. |
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Herrick K. Lidstone to teach at the University of Colorado Law School
Law Firm News/Colorado |
2008/11/17 13:48
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| During the spring of 2009, Herrick K. Lidstone, Jr., will be teaching a course at his alma mater, the University of Colorado Law School, Boulder, Colorado as an adjunct professor. This course is intended for third year law students and is concerned with the various federal statutes regulating the issuance of securities and the cases and regulations that have arisen out of those statutes, with an emphasis on statutory interpretation. Mr. Lidstone will be using his book, Securities Law Deskbook with additional course materials. The 2009 supplement for the Securities Law Deskbook is in production. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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