NEW YORK, March 3, 2020 /PRNewswire/ -- Bernstein
Liebhard, a nationally acclaimed investor rights law firm,
announces that a securities class action lawsuit has been filed on
behalf of investors that purchased or acquired shares of Crown
Castle International Corp. ("Crown Castle" or the "Company") (NYSE:
CCI) between February 26, 2018 and
February 26, 2020 (the "Class
Period"). The case is currently pending in the United States District Court for the
District of New Jersey and alleges
violations of the Securities Exchange Act of 1934.
If you purchased Crown Castle securities, and/or would like
to discuss your legal rights and options please visit Crown
Castle Shareholder Class Action or contact Matthew E. Guarnero toll free at (877)
779-1414 or MGuarnero@bernlieb.com.
According to the Complaint, the defendants throughout the Class
Period made false and/or misleading statements and/or failed to
disclose that: (1) Crown Castle's internal control over financial
reporting and disclosures controls and procedures were ineffective
and materially weak; (2) Crown Castle's financial accounting and
reporting was not in accordance with GAAP; (3) Crown Castle's net
income, adjusted EBITDA, and adjusted funds from operations were
inflated; (4) 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 (5) 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.
On February 26, 2020, Crown Castle
announced that its accounting practice regarding recognizing
servicing revenues from its tower installations were "not
acceptable under GAAP." The Company 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.
On this news, Crown Castle's stock price fell precipitously
during after-hours trading.
If you purchased Crown Castle Health securities, and/or would
like to discuss your legal rights and options please visit
https://www.bernlieb.com/cases/crowncastleinternationalcorp-cci-shareholder-class-action-lawsuit-stock-fraud-256/apply/
or contact Matthew E. Guarnero toll
free at (877) 779-1414 or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court
no later than April 27, 2020. A lead
plaintiff is a representative party acting on behalf of other class
members in directing the litigation. Your ability to share in any
recovery doesn't require that you serve as lead plaintiff. If you
choose to take no action, you may remain an absent class
member.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National
Law Journal's "Plaintiffs' Hot List" thirteen times and
listed in The Legal 500 for ten consecutive
years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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SOURCE Bernstein Liebhard LLP