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 mail@shareholdersfoundation.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.
Shares of Uniti Group Inc. (NASDAQ: UNIT) declined from $20.00 per share on February 15, 2019 to as low as $8.06 per share on March 8, 2019.
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.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.
