BENSALEM, Pa., Jan. 30, 2009 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces that it is investigating potential claims against Level 3 Communications, Inc. ("Level 3" or the "Company") (Nasdaq:LVLT), concerning possible securities violations in relation to certain public statements made by the Company between February 8, 2007 and October 23, 2007. The investigation focuses on allegations that statements made by the Company during that period were false and misleading or failed to disclose or indicate, among other things: (1) that the Company's integration efforts were not going well and that the integration was making the Company's operations increasingly more complex and problematic; (2) that, as a result, the Company was experiencing an increase in service activation times, which was negatively impacting the Company's service installation intervals and the rate of its revenue growth; (3) that the Company was also experiencing challenges in its service management processes that were resulting in longer response times to resolve customers' network service issues; (4) that steps taken by the Company to remedy the problems were not working, and actually further complicating the issues and making them worse; and (5), as a result of the above, that the statements made by the Company during the foregoing period lacked a reasonable basis.
If you purchased Level 3's common stock between February 8, 2007 and October 23, 2007, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com.