According to the Complaint, the Defendants made false and/or misleading statements and/or failed to disclose that: (i) various headwinds were impeding the Company’s ability to invest in and grow its Quantum Fiber brand; (ii) Quantum Fiber was not progressing as was represented to the investing public; (iii) Lumen’s management was reassessing its strategic priorities and had placed a hold on the plans to quickly scale up the Quantum Fiber brand; and (iv) as a result of Lumen’s decision to delay expansion of Quantum Fiber, the Company’s results and metrics were negatively impacted and the scaling up of Quantum Fiber would not occur until, at the earliest, the end of 2023. As a result of the foregoing, Lumen’s public statements were materially false and misleading at all relevant times.