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Lawsuit filed for Investors in shares of Crown Castle International Corp. (REIT) (NYSE: CCI)

03-04-2020 10:44 PM CET | Politics, Law & Society

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Crown Castle International Corp. (REIT) (NYSE: CCI) shares.

A lawsuit was filed on behalf of investors in Crown Castle International Corp. (REIT) (NYSE: CCI) shares.

An investor, who purchased shares of Crown Castle International Corp. (REIT) (NYSE: CCI), filed a lawsuit over alleged Securities Laws violations by Crown Castle International Corp.

Investors who purchased shares of Crown Castle International Corp. (REIT) (NYSE: CCI) have certain options and for certain investors are short and strict deadlines running. Deadline: April 27, 2020. NYSE: CCI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Houston, TX based Crown Castle owns, operates and leases more than 40,000 cell towers and more than 75,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market.

On February 26, 2020, Crown Castle International Corp announced that its historical accounting practice with respect to recognizing servicing revenues from its tower installation services "was not acceptable under GAAP." Crown Castle International Corp stated that it would restate its financial statements for the years ended December 31, 2018 and 2017 and for the first three quarters in the year ended December 31, 2019.

The plaintiff claims that between February 26, 2018 and February 26, 2020, the defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that Crown Castle's internal control over financial reporting and disclosures controls and procedures were ineffective and materially weak, that Crown Castle's financial accounting and reporting was not in accordance with GAAP, that Crown Castle's net income, adjusted EBITDA, and adjusted funds from operations were inflated, that Crown Castle would need to restate its financial statements for the years ended December 31, 2018 and 2017, and unaudited financial information for the quarterly and year-to-date periods in the year ended December 31, 2018 and for the first three quarters in the year ended December 31, 2019, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Crown Castle International Corp. (REIT) (NYSE: CCI) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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