On or around 05/11/2020 (Date of last review)
Filing Date: October 25, 2019
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. Lead Plaintiff filed a consolidated amended Complaint on May 11.
Company & Securities Information
Defendant: Uniti Group Inc
Industry: Other (Mutual Fund)
Headquarters: United States
Ticker Symbol: UNIT
Company Market: NASDAQ
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.
First Identified Complaint
Ibrahim E Safadi, et al. v. Uniti Group Inc, et al.
COURT: E.D. Arkansas
DOCKET #: 19-CV-00756
JUDGE: Hon. Brian S. Miller
DATE FILED: 10/25/2019
CLASS PERIOD START: 04/20/2015
CLASS PERIOD END: 02/15/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Carney Bates & Pulliam, PLLC
Levi & Korsinsky LLP (New York)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws