A lawsuit was filed on behalf of investors in Uniti Group Inc. (NASDAQ: UNIT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/12/2019 -- An investor, who purchased shares of Uniti Group Inc. (NASDAQ: UNIT), filed a lawsuit over alleged violations of Federal Securities Laws by Uniti Group Inc.
Investors who purchased shares of Uniti Group Inc. (NASDAQ: UNIT) have certain options and for certain investors are short and strict deadlines running. Deadline: December 30, 2019. NASDAQ: UNIT investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Little Tock, AR based Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry.
On September 21, 2017, hedge fund Aurelius Capital Master, Ltd. ("Aurelius"), which owns more than 25% of Windstream's unsecured notes due 2023, gave written notice to Windstream that the spin-off of Uniti Group Inc. constituted a sale and leaseback in breach of the notes' indenture.
On February 15, 2019, United States District Judge Jesse M. Furman determined that Windstream had breached the indenture and awarded Aurelius a monetary judgement exceeding $310 million.
On February 25, 2019, Windstream declared Chapter 11 bankruptcy.
The plaintiff claims that between April 20, 2015 and February 15, 2019, the Uniti made materially false and/or misleading statements and/or failed to disclose that Uniti's financial results were not sustainable because its customer Windstream had defaulted on its unsecured notes, and that as a result of the foregoing, Defendants' statements about Uniti's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Those who purchased shares of Uniti Group Inc. (NASDAQ: UNIT) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , 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, investigation, and/or settlements are not filed/reached and/or 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.