Shares in Level 3 Communication Inc. fell Friday and continued to dip early Monday after news that its merger partner is accused of engaging in fraudulent billing.

A former CenturyLink Inc. employee filed suit in Arizona, last week, claiming she was fired after raising concerns about the company's sales techniques that charged customers million of dollars for services they didn't request.

Bloomberg reported that Heidi Heiser filed suit after being fired for bringing her concerns to CenturyLink executives, and an analyst was quoted saying, "CenturyLink is going to be in a world of hurt if this turns out to be true."

In rebuttal, CenturyLink said it "holds itself and its employees to the highest ethical standards."

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