Securities Class Action Services - Details
Embarq Corporation


Case Status Settled
Filing Date December 01, 2008
Class Period October 26, 2008 to July 01, 2009
Lead Plaintiff Deadline TBD
Settlement Fund TBD
Deadline for Filing a Claim TBD
Disbursement Date TBD


Class Definition
On behalf of all persons who held shares of Embarq Corporation ("Embarq") common stock at any time from October 26, 2008 through and including July 1, 2009, the date on which the merger between Embarq and CenturyTel, Inc. ("CenturyTel") became effective.

Security ID(s)
Embarq Corp (EQ)
29078E105

Key Documents
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Complaint View Complaint
Settlement Notice View Settlement Notice
No Claim Form available.

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Claims Administrator Garden City Group
    Settlement Hotline 1-866-291-7430
    Claims Administrator Webpage www.gardencitygroup.com

Objection Deadline November 10, 2009
Exclusion Deadline November 10, 2009

Tentative Settlement Date January 16, 2009
Tentative Settlement Amount TBD

Final Settlement Date November 20, 2009
Court Kansas District Court, Johnson County
Case No. TBD
Dismissal Date TBD
Institutional Lead Plaintiff N/A
Individual Lead Plaintiff N/A
Defendants Embarq Corporation, Thomas A. Gerke, William A. Owens, Peter C. Brown, Steven A. Davis, Richard A. Gephardt, John P. Mullen, Dinesh C. Paliwal, Stephanie M. Shern, Laurie A. Siegel, CenturyTel, Inc.
Settling Defendants Embarq Corporation, Thomas A. Gerke, William A. Owens, Peter C. Brown, Steven A. Davis, Richard A. Gephardt, John P. Mullen, Dinesh C. Paliwal, Stephanie M. Shern, Laurie A. Siegel, CenturyTel, Inc.

Case Summary

The claims arose in connection with the merger agreement (the "Merger Agreement") between Embarq and CenturyTel pursuant to which Embarq merged subsequently with a subsidiary of CenturyTel and each share of Embarq common stock was converted into the right to receive 1.37 shares of CenturyTel common stock (the "Merger").

The complaint alleges that Embarq's directors breached their fiduciary duties by entering into the Merger Agreement, including by failing to disclose material information in the proxy materials distributed to Embarq stockholders in connection with the Merger and by failing to obtain the highest price available for Embarq's stockholders. The complaint also alleges that that Embarq and CenturyTel aided and abetted the directors' breaches of their fiduciary duties.


Settlement Summary
Cash Settlement TBD
Non-Cash Settlement None
Miscellaneous Settlement The settlement provides, in part, for certain supplemental disclosures filed by Embarq with the United States Securities and Exchange Commission on a Form 8-K dated January 16, 2009, a release of claims and the payment of attorneys' fees and for the reimbursement of expenses. The Form 8-K is available at http://www.sec.gov/Archives/edgar/data/1350031/000119312509007545/d8k.htm

Attorneys
Plaintiffs Robbins Umeda, Beam-Ward, Kruse, Wilson, Wright & Fletes
Defendants Morris Nichols Arsht & Tunnell, Stinson Morrison Hecker, Wachtell, Lipton, Rosen & Katz, Husch Blackwell Sanders, Polsinelli Shughart

Legal Fees & Expenses
Not to exceed $1,000,000 for attorney's fees and expenses

Additional Information

30853

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