For those of you who invest in AT&T:
AT&T shares sank as a research analyst downgraded the stock following a Wall Street Journal investigation that revealed that U.S. phone companies have left behind a network of cables covered in toxic lead.
AT&T shares are down more than 6% this week, trading at levels not seen in 20 years, as Wall Street analysts raised questions about liabilities related to the cables.
One analyst estimated it could cost $59 billion for the telecom industry to remove all the lead cables nationwide.
"Potential copper lead sheathing liability is unquantifiable at this time, but will be a substantial long-term overhang on AT&T and the industry," wrote JPMorgan analyst Philip Cusick in a note to investors that downgraded his recommendation on AT&T to "neutral" from "overweight."
The Journal investigation showed how phone companies have left behind more than 2,000 old lead-encased phone cables, hung up on poles, under waterways and in the soil around the U.S. Journal testing found numerous cables leaching lead into soil and water, at levels exceeding regulatory safety guidelines.