BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Uniti Group Inc. f/k/a Communications Sales & Leasing, Inc. (“Uniti” or the “Company”) (NASDAQ: UNIT) investors concerning the Company and its officers’ possible violations of federal securities laws.
In 2015, Uniti was spun-off from Windstream Holdings, Inc. (“Windstream”). Following the spin-off, Windstream became Uniti’s primary customer.
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 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 this news, Uniti’s stock price fell $7.47 per share, or over 37%, to close at $12.51 per share on February 19, 2019, thereby injuring investors.
If you purchased Uniti securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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