NEW YORK, Nov. 4, 2019 /PRNewswire/ -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Uniti Group Inc. ("Uniti" or the "Company") (NASDAQ: UNIT) between April 20, 2015 and February 15, 2019, inclusive (the "Class Period"). The lawsuit filed in the United States District Court for the Eastern District of Arkansas alleges violations of the Securities Exchange Act of 1934.
If you purchased Uniti securities, and/or would like to discuss your legal rights and options please visit Uniti Shareholder Class Action or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
The complaint alleges that Uniti made materially false and/or misleading statements and/or failed to disclose that: (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 February 15, 2019, United States District Judge Jesse M. Furman released his finding of facts and conclusions of law declaring that Windstream breached the indenture and awarded Aurelius a monetary judgment of $310,459,959.10 plus interest. On this news, the price of Uniti's common stock fell $7.47 from a close of $19.98 per share of Uniti common stock on February 15, 2019, to a close of 12.51 per share of Uniti common stock on February 19, 2019. A drop of approximately 37.39%
If you purchased Uniti securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/unitigroupinc-unit-shareholder-class-action-lawsuit-stock-fraud-211/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court no later than December 30, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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SOURCE Bernstein Liebhard LLP