CROWN CASTLE INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Crown Castle International Corp. - CCI
PR Newswire
NEW ORLEANS, Oct. 30, 2020
NEW ORLEANS , Oct. 30, 2020 /PRNewswire/ -- Former Attorney General of Louisiana , Charles C. Foti, Jr., Esq. , a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Crown Castle International Corp. (NYSE: CCI).
On February 26, 2020 , the Company disclosed that it would have to restate "financial statements for the years ended December 31, 2018 and 2017, and unaudited financial information for the quarterly and year-to-date periods in the year ended December 31, 2018 and for the first three quarters in the year ended December 31, 2019 " because its historical accounting practice for tower installation services was not acceptable under GAAP. Then, on May 1, 2020 , the Company disclosed in its Form 10Q quarterly report for the period ended March 31, 2020 that it received a subpoena from the SEC in September 2019 seeking "certain documents from 2015 through the present, primarily related to the Company's long-standing capitalization and expense policies for tenant upgrades and installations in its services business."
The Company has been sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws, which remains ongoing.
KSF's investigation is focusing on whether Crown Castle's officers and/or directors breached their fiduciary duties to Crown Castle's shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Crown Castle shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ( lewis.kahn@ksfcounsel.com ), or visit https://www.ksfcounsel.com/cases/nyse-cci/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr. , is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York , California and Louisiana .
To learn more about KSF, you may visit www.ksfcounsel.com .
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn , Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC