Scott+Scott Attorneys at Law LLP Alerts Investors to Securities Class Action Against Crown Castle International Corp. (CCI)

NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against Crown Castle International Corp. (“Crown Castle” or the “Company”) (NYSE:CCI), and certain other defendants, related to alleged violations of federal securities laws. If you purchased Crown Castle securities between February 26, 2018 and February 26, 2020, inclusive, you are encouraged to contact Scott+Scott attorney Joe Pettigrew for additional information at [phone] or [e-mail].

Crown Castle owns, operates, and leases tens of thousands of cell towers and miles of fiber primarily supporting small cell networks and fiber solutions across every major U.S. market. The class action concerns the propriety of Crown Castle’s accounting relating to the Company’s services business.

According to the lawsuit, defendants repeatedly represented that Crown Castle complied with GAAP and affirmed the effectiveness of the Company’s internal control over financial reporting. However, Crown Castle was materially inflating its net income, adjusted EBITDA, and adjusted funds from operations.

The truth emerged on February 26, 2020, when Crown Castle announced that it would need to restate previously issued financial statements to correct material misstatements.

On this news, the price of Crown Castle stock dropped $14.29 per share - over 8.7% - to close at $148.40 per share on February 27, 2020.

What You Can Do

If you purchased Crown Castle securities between February 26, 2018 and February 26, 2020, inclusive, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Joe Pettigrew at [phone] or [e-mail]. The deadline for lead plaintiff motions is April 27, 2020.

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.

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