According to a press release an investigation on behalf of purchasers of Level 3 Communications, Inc. (NASDAQ: LVLT) common stock between February 8, 2007 and October 23, 2007 concerning potential claims under the federal securities laws for losses associated with potential misrepresentations and/or omissions was announced.

According to the press release the investigation by the law firm focuses on whether Level 3 may have misrepresented its business, prospects and/or operations by failing to timely and adequately disclose that the Company was experiencing problems integrating its numerous acquisitions and/or had severe provisioning issues with its core communications services. Specifically the investigation focuses on allegations that statements made by Level 3 Communications, Inc. (NASDAQ: LVLT) between February 8, 2007 and October 23, 2007 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.