Investigation Report: AT&T Inc. Faces Claims of Securities Fraud and Environmental Risks

Pomerantz LLP is currently investigating allegations made by investors against AT&T Inc. (“AT&T” or the “Company”) T. The investigation aims to determine whether AT&T and certain executives have been involved in securities fraud or other illegal business practices.

According to an article published by the Wall Street Journal on July 9, 2023, over 2,000 abandoned lead cables, previously used by AT&T and other telecommunications companies, have been found to be degrading and contaminating the soil and groundwater. This poses a significant risk to public health. In a related article, the Wall Street Journal estimated that the cost of cleanup could reach tens of billions of dollars.

Following the publication of these damaging articles, analysts downgraded the stocks of AT&T and other telecommunications companies. As a result, AT&T’s stock price dropped by $0.97 per share, or 6.69%, closing at $13.53 per share on July 17, 2023.

Pomerantz LLP is a well-respected law firm with offices in several major cities worldwide, including New York, Chicago, Los Angeles, London, Paris, and Tel Aviv. The firm specializes in corporate, securities, and antitrust class litigation. Founded by Abraham L. Pomerantz, a renowned figure in the field of securities class actions, the firm has been fighting for the rights of victims of securities fraud and corporate misconduct for over 85 years. Pomerantz LLP has successfully recovered billions of dollars in damages on behalf of class members.

For more information about the ongoing investigation and to potentially be part of the class action, investors are encouraged to visit the Pomerantz LLP website.

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