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Case Status:    SETTLED
On or around 06/12/2008 (Date of order of final judgment)

Filing Date: May 26, 2006

The original securities class action was filed against American Tower Corporation and certain of its officers. This action alleges violations of the federal securities laws in connection with public statements by the Company relating to its stock option practices and related accounting. The Company announced on May 19, 2006 that it was conducting an internal review of its historic stock option granting practices.

Further, a shareholder derivative lawsuit was filed in state court in Massachusetts by an individual identifying himself as a shareholder of the Company, purporting to act on behalf of the corporation, against certain current and former officers and directors for alleged breaches of fiduciary duties with respect to the Company's historic stock option granting practices.
According to the Company’s FORM 10-Q for the quarterly period ended June 30, 2008, in December 2006, the court appointed the Steamship Trade Association-International Longshoreman’s Association Pension Fund as the lead plaintiff. In March 2007, plaintiffs filed an amended consolidated complaint, which included additional current and former officers and directors of the Company as defendants. In December 2007, the Company announced that it had reached a settlement in principle regarding the securities class action. The settlement, which was preliminarily approved by the court in February 2008, provided for a payment by the Company of $14.0 million and would lead to a dismissal of all claims against all defendants in the litigation. The Company paid $250,000 of the settlement amount to an escrow account controlled by the plaintiffs during the quarter ended March 31, 2008. In April 2008, the Company paid the remaining settlement amount of $13.8 million into escrow and received $12.5 million in insurance proceeds. In May 2008, the original plaintiff, Mr. Greenebaum, filed an objection to the settlement. Following a hearing in June 2008, the Court dismissed Mr. Greenebaum’s objection and approved the settlement. In July 2008, Mr. Greenebaum filed an untimely request to opt-out of the settlement class certified by the Court in its orders, which the Company opposed. Additionally, Mr. Greenebaum filed a notice of appeal of the Court’s final order approving the settlement agreement. The members of the plaintiff class will not be entitled to draw the funds until Mr. Greenebaum’s appeal is finally resolved.

On August 22, 2008, Chief Judge Mark L. Wolf issued the Memorandum denying the motion for attorney fees and denying the plaintiff’s motion to opt-out of the settlement class. On September 17, 2008, the plaintiff filed a Notice of Appeal as to the Order on Motion for Attorney Fees. On December 2, 2008, the Court entered the Mandate from the U.S. Court of Appeals for the First Circuit. The appeal was voluntarily dismissed.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: AMT
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Massachusetts
DOCKET #: 06-CV-10933
JUDGE: Hon. Mark L. Wolf
DATE FILED: 05/26/2006
CLASS PERIOD START: 02/01/2006
CLASS PERIOD END: 05/24/2006
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Adkins, Kelston and Zavez, PC
    90 Canal Street, 5th Floor, Adkins, Kelston and Zavez, PC, MA 02114
    617.367.1040 617.742.8280 · info@akzlaw.com
  2. James F. Bishop & Associates
    550 Woodstock Street, James F. Bishop & Associates, IL 60014
    .815.455.1414 · info@jbishoplaw.com
  3. Labaton Sucharow & Rudoff LLP
    100 Park Avenue, 12th Floor, Labaton Sucharow & Rudoff LLP, NY 10017
    212.907.0700 212.818.0477 · info@labaton.com
  4. Lovell Stewart Halebian LLP (former New York)
    500 Fifth Avenue, Lovell Stewart Halebian LLP (former New York), NY 10110
    212.608.1900 212.719.4677 · info@lshllp.com
  5. Thornton & Naumes, LLP
    100 Summer Street, 30th Floor, Thornton & Naumes, LLP, MA 02110
    617.720.1333 617.720.2445 · info@tenlaw.com
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 06-CV-10933
JUDGE: Hon. Mark L. Wolf
DATE FILED: 03/26/2007
CLASS PERIOD START: 04/01/2002
CLASS PERIOD END: 05/22/2006
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Labaton Sucharow & Rudoff LLP
    100 Park Avenue, 12th Floor, Labaton Sucharow & Rudoff LLP, NY 10017
    212.907.0700 212.818.0477 · info@labaton.com
No Document Title Filing Date
No Document Title Filing Date
No Document Title Filing Date