Glancy Prongay & Murray LLP Announces Investigation on Behalf of Uniti Group Inc. f/k/a Communications Sales & Leasing, Inc. Investors
LOS ANGELES--(BUSINESS WIRE)--Nov 4, 2019--
Glancy Prongay & Murray LLP (“GPM”) 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.
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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 judgment 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 Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20191104005168/en/
CONTACT: Glancy Prongay & Murray LLP, Los Angeles/New York
Lesley F. Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Glancy Prongay & Murray LLP
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PUB: 11/04/2019 02:00 PM/DISC: 11/04/2019 02:00 PM