BOSTON, Feb. 28, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a class action lawsuit has been filed against Crown Castle International Corp. (NYSE: CCI) and certain of its officers for securities fraud. The lead plaintiff deadline is April 27, 2020. Investors who purchased Crown Castle shares between February 26, 2018 and February 26, 2020 (the "Class Period") should contact Block & Leviton for a free case evaluation.
The lawsuit, filed in the U.S. District Court for New Jersey, alleges that Crown Castle’s financial accounting and reporting were not in accordance with GAAP and, as such, Crown Castle's net income, adjusted EBITDA, and adjusted funds from operations were artificially inflated throughout the Class Period.
The truth came to light on February 26, 2020, when Crown Castle announced that it would need to restate previously issued financial statements to correct material misstatements. As a result of this disclosure, The company’s share price dropped significantly.
“Investors are entitled to rely on the accuracy of a company’s financial reports, and a multi-year restatement is always concerning. Right now we are focused on how investors are going to be affected,” said Mark Delaney, the Block & Leviton attorney leading the investigation.
If you have purchased or acquired Crown Castle securities, and have questions about your legal rights, or possess information relevant to this matter, you are encouraged to contact attorney Mark Delaney directly at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/cases/?case=cci.
Block & Leviton LLP is a firm dedicated to representing investor and maintaining the integrity of the country’s financial markets. The firm represents both many of the nation's largest institutional investors and individual investors in securities litigation throughout the United States. Its lawyers have recovered billions of dollars for its clients.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mark@blockesq.com
SOURCE Block & Leviton LLP
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