NEW YORK, July 31, 2023 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Verizon (NYSE: VZ) resulting from allegations that Verizon may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Verizon securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=17727 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On July 17, 2023, during market hours, The Wall Street Journal published an article entitled “Environmental Groups Ask EPA to Shield Public From Abandoned Lead Cables”, which followed up on a series of exposés showing that “Verizon and other telecom companies have left behind more than 2,000 toxic lead cables on poles, under waterways and in the soil across the U.S.”, leaving various spots with lead levels which exceeded Environmental Protection Agency (“EPA”) safety guidelines. The article also discussed how various environmental groups had requested that the EPA investigate the matter and remove certain lead-covered cables, and take other action as needed.
On this news, the price of Verizon stock fell by $2.55 per share, or 7.5%, to close at $31.46 on July 17, 2023.
Then, on July 26, 2023, after the market closed, The Wall Street Journal published an article entitled “Justice Department and EPA Probe Telecom Companies Over Lead Cables.” The article stated, in pertinent part, “The Justice Department and Environmental Protection Agency are investigating the potential health and environmental risks stemming from a sprawling network of toxic lead-sheathed telecom cables across the U.S.” It highlighted how the EPA had said it takes “the issues raised in the articles very seriously and will move expeditiously under our statutory authorities to protect the public from legacy pollution.”
On this news, the price of Verizon stock fell by $0.79 per share, or 2.3%, to close at $33.55 on July 27, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
-------------------------------
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
