Plus   Neg

CenturyLink Reports Special Committee's Key Findings - Quick Facts

CenturyLink Inc. (CTL) announced that a Special Committee of independent board members has reported the findings of its review of the company's policies, procedures and practices relating to consumer sales, service and billing. The company said the investigation did not reveal evidence to conclude that any member of the company's management team engaged in fraud.

The company's outside directors voluntarily formed the Special Committee after a former employee alleged that the company engaged in sales-related misconduct, including charging customers for services they did not order—a practice known as cramming.

CenturyLink reported that the Special Committee's key findings include: company management did not condone or encourage cramming, and the evidence did not show that cramming was common at the company.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Cannae Holdings, Inc. said Wednesday that its portfolio company, Ceridian HCM Holding Inc., has confidentially filed for an initial public offering. Ceridian HCM, a provider of human resources software and services, filed a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission relating to the proposed IPO of its common stock. Goldman Sachs Group Inc. on Wednesday reported a loss for the fourth quarter, reflecting lower trading revenue in fixed income, currencies and commodities as well as a charge related to the recent U.S. tax reform. However, both adjusted earnings per share and revenues for the quarter topped analysts' expectations. Bank of America Corp. (BAC) reported a profit for the fourth-quarter of 2017 that declined about 50 percent from last year, hurt by a charge of $2.9 billion or $0.27 per share, related to the Tax Cuts and Jobs Act.
comments powered by Disqus
Follow RTT