AT&T (T) Lead Cables Harm Case

N.D. Texas

Court

3:24-cv-01196

Case number

03/01/2020

Class period Start

07/26/2023

Class period End

09/26/2023

Lead Plaintiff motion deadline

WSJ released seria of articles on AT&T and other telecoms that left over 2,000 toxic lead cables on poles, under waterways, and in the soil across the U.S. and which harm the Company's employees and ordinary people.
$T fell, losing billions of its market cap. 
Investors suspect AT&T and Accountables of failing to disclose highly toxic effects from its cables.
On July 26, 2023, The Wall Street Journal released an article entitled “Justice Department and EPA Probe Telecom Companies Over Lead Cables.” The article stated that “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, $T fell 2.55% and lost $2.7 billion of its market capitalization.

Earlier, on July 17, 2023, WSJ released an article entitled “Environmental Groups Ask EPA to Shield Public From Abandoned Lead Cables”, which followed up on a series of exposes showing that “AT&T 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 EPA safety guidelines.

The article also discussed how various environmental groups had requested that the Environmental Protection Agency investigate the matter and remove certain lead-covered cables, and take other action as needed.

On this news, $T fell by 4.2%, seriously damaging investors.

Taking all facts into account, Investors have reasons to suspect AT&T and its Accountables of failing to disclose that it owns cables around the US that are highly toxic due to their being wrapped in lead, and which harm the Company's employees and non-employees alike.

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Failure to Disclose,

Negligence,

Omissions

Suspected Party

Directors,

Management,

Service Provider

Security Type

Stocks

Trade Direction

Long

Shock Event Date

07/27/2023

Filing date

07/28/2023

Lead Plaintiff Deadline

09/26/2023

Judge

Hon. Kevin McNulty

AT&T (T) Lead Cables Harm Case

Collecting participants…