Oregon to lead national suit against CenturyLink

A federal judge confirmed that the troubled Oregon Public Employees Retirement Fund would be the lead plaintiff in the case.

Posted: Jun 5, 2018 5:52 PM

SALEM, Ore. (AP) -- Oregon will lead a national class-action lawsuit against internet and TV provider CenturyLink, over allegations including fraudulent accounts and billing.

The designation is the latest development after the 2017 beginning of the lawsuit, which alleged the company pushed employees to secretly add services and charges to customer accounts. When the allegations came to light, CenturyLink stock declined sharply in value.

A federal judge confirmed that the troubled Oregon Public Employees Retirement Fund would be the lead plaintiff in the case. The Oregon treasurer and attorney general announced the development Tuesday, saying the state had suffered $6 million in losses after the stock dive.

Losses from the alleged actions are part of larger challenges facing state pension planners, as increasing pension bills have driven some municipalities into dire budgetary straits.

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