SOURCE: Holzer Holzer & Fistel, LLC

March 05, 2009 15:14 ET

Holzer Holzer & Fistel, LLC Announces That It Has Filed a Shareholder Class Action Against Level 3 Communications, Inc. (NASDAQ: LVLT)

ATLANTA, GA--(Marketwire - March 5, 2009) - Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit in the United States District Court for the District of Colorado on behalf all persons or entities who purchased shares of Level 3 Communications, Inc. ("Level 3" or the "Company") (NASDAQ: LVLT) between February 8, 2007 and October 23, 2007 (the "Class Period").

The complaint charges Level 3 and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges, among other things, that the Company failed to adequately disclose the problems it was having integrating various companies Level 3 had purchased and that these problems were negatively impacting revenue growth.

If you purchased shares of Level 3 common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made on or before April 6, 2009. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Level 3 investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm.