According to the Complaint, Uniti Group Inc (formerly known as Communications Sales & Leasing, Inc.) identifies itself as a real estate investment trust ("REIT") specialized in acquisition and construction of essential-to-survival infrastructure in the communications industry.

The Complaint alleges that during the Class Period, the Company made materially false and/or misleading statements, misrepresenting and failing to disclose the following adverse facts pertaining to the Company's business, operations, and prospects, which were known to Defendants or recklessly disregarded by them: (i) Uniti's financial results were not sustainable because its customer Windstream had defaulted on its unsecured notes; and (ii) 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.

On March 12, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 19-CV-00756.

Lead Plaintiff filed a consolidated amended Complaint on May 11, 2020. Defendants filed a Motion to Dismiss the consolidated amended Complaint on July 10. On March 31, 2021, the Court issued an Order denying Defendants' Motion to Dismiss.

The parties entered into a Stipulation and Agreement of Settlement on June 17, 2022. The Court granted preliminary approval of the Settlement on July 20. On November 7, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.