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Verizon Communications (VZ) Stock Lower on FCC Investigation

NEW YORK (TheStreet) -- Shares of Verizon Communications (VZ - Get Report) are down by 0.77% to $44.36 at the start of trading on Monday morning, after the Federal Communication Commission announced on Friday that it is investigating allegations of anticompetitive practices at four telecom companies.

AT&T (T), CenturyLink (CTL) and Frontier Communications (FTR) are the other companies being looked into by the FCC, Reuters reported.

The FCC is looking to determine if the companies offered so called discounted pricing plans that were in reality priced much higher than competitors, Reuters added.

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The services the FCC is investigating are legacy services that have been in place for years, Verizon spokesperson Ed McFadden told Reuters.

"If the FCC is going to examine these tariffs, it should at least first analyze the data it has collected from the industry so that the agency has an accurate...