Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of Level 3 Communications, Inc.

NEW YORK, NY--(Marketwire - February 4, 2009) - Attorney Advertising. Notice is hereby given that a class action has been commenced in the United States District Court for the District of Colorado on behalf of purchasers of Level 3 Communications, Inc. ("Level 3" or the "Company") (NASDAQ: LVLT) common stock during the period between February 8, 2007 and October 23, 2007 (the "Class Period").

Stull, Stull & Brody has substantial experience representing employees who suffered losses from purchases of their employer's stock in their 401(k) plans. If you bought Level 3 stock through your Level 3 retirement account and have information or would like to learn more about these claims, please contact us.

The complaint charges Level 3 and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Level 3 engages in the communications business in North America and Europe. The Company's network and Internet services include transport services, high speed Internet protocol services, dedicated Internet access, virtual private network services, co-location services, and dark fiber services.

The complaint alleges that the representations contained in Level 3's press releases, SEC filings, conference calls, and presentations during the Class Period were materially false and misleading when made because they failed to disclose that: (i) the Company was experiencing problems integrating its numerous acquisitions; (ii) the Company's integration problems caused Level 3 to experience severe provisioning problems which were negatively impacting revenue growth; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about Level 3's business, operations and earnings prospects.

On October 23, 2007, Level 3 issued a press release announcing its financial results for the third quarter of 2007, the period ending September 30, 2007. For the quarter, the Company reported consolidated revenue of $1.061 billion. Level 3 further reported that its core communications services revenue was negatively impacted by provisioning issues. In response to the announcements, the price of Level 3 stock declined from $4.32 per share to $3.18 per share on October 24, 2007, on extremely heavy trading volume.

Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Level 3 common stock during the Class Period, which is between July 21, 2008 and January 20, 2009. If you purchased or otherwise acquired Level 3 common stock during the Class Period, and either lost money on the transaction or still hold the securities, you may wish to join in the action to serve as lead plaintiff. If you purchased Level 3 common stock during the Class Period, you may request that the Court appoint you as lead plaintiff no later than April 5, 2009.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Los Angeles.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at SSBNY@aol.com, by calling toll-free 1-800-337-4983, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.