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T.US

AT&T (T) Lead Cables Harm Case

D. New Jersey
Court
2:23-cv-04064
Case number
01 Mar 2020
Class period Start
26 Jul 2023
Class period End
26 Sept 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.
Alleged Offence
Misleading Statements
Failure to Disclose
Negligence
Omissions
Suspected Party
Directors
Management
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
27 July 2023
Filing date
28 July 2023
Lead Plaintiff Deadline
26 September 2023
Judge
Hon. Kevin McNulty
Collecting participants…
Created by Stan Vick, Scout

AT&T Inc

AT&T Inc. provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voic...

    Ticker
    T.US
    ISIN
    US00206R1023
    CIK
    732717
    Sector
    Communication Services
    Industry
    Telecom Services
    Country
    USA
    Address
    208 South Akard Street, Dallas, TX, United States, 75202