Verizon Communications Inc. (NYSE: VZ)
Verizon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company owns lead-wrapped cables nationwide that are highly toxic and harmful to Company employees and non-employees alike; (ii) the hazards caused by the lead cables pose not only health risks to employees and the public, but also potentially significant risks to the Company from litigation, regulatory measures, and reputational harm; and (iii) as a result, Verizon’s statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The case is Meehan v. Verizon Communications Inc., et al., No. 23-cv-1375.