Crown Castle International Corp.
Company Name | Crown Castle International Corp. |
Stock Symbol | CCI |
Class Period | February 26, 2018 to February 26, 2020 |
Lead Plaintiff Motion Deadline | April 27, 2020 |
On February 26, 2020, Crown Castle announced that it would restate its financial statements for the years ended December 31, 2018 and 2017 and for the first three quarters in the year ended December 31, 2019. According to the press release, the Company had recognized service revenues from its tower installation services in a manner that "was not acceptable under GAAP."
On this news, the Company’s share price fell $14.38 per share, or over 8.8%, to close at $148.31 per share on February 27, 2020, thereby injuring investors.
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