American Tower Gets SEC Subpoena For Tax-Related Documents

Date : 06/03/2011 @ 9:46AM
Source : Dow Jones News
Stock : American Tower Corp. (Reit) (AMT)
Quote : 130.805  -0.245 (-0.19%) @ 2:30PM

American Tower Gets SEC Subpoena For Tax-Related Documents

American Tower (NYSE:AMT)
Historical Stock Chart

5 Years : From May 2012 to May 2017

Click Here for more American Tower Charts.
  DOW JONES NEWSWIRES 
 

American Tower Corp. (AMT) received a subpoena from the U.S. Securities and Exchange Commission related to the company's tax accounting and reporting.

The cell-tower operator said it will cooperate fully with the SEC's request for certain documents from 2007 through the present.

Last month, the company got board approval to take the steps necessary to reorganize as a real estate investment trust no earlier than Jan. 1, 2012. At the time, American Tower said converting to an REIT structure was the optimal cash distribution and tax strategy given the nature of its assets and business.

The company also reported in May its first-quarter profit declined 4.6% as operating margins fell and interest expenses grew, masking better-than-expected revenue growth.

Shares were trading down 10% at $49 premarket. The stock has risen 28% over the past year, as of Thursday's close.

-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Latest AMT Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.