INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of Uniti Group Inc. f/k/a Communications Sales & Leasing, Inc. Investors
BENSALEM, Pa.--(BUSINESS WIRE)--Nov 4, 2019--
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 email@example.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191104005137/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2019.
PUB: 11/04/2019 11:00 AM/DISC: 11/04/2019 11:01 AM