The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Crown Castle International Corp. (NYSE: CCI) who purchased shares between February 26, 2018 and February 26, 2020. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the Crown Castle lawsuit alleges 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 AFFO 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.
Shareholders have until April 27, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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