Uniti Group Inc. Securities Litigation Case Dismissed in United States District Court
LITTLE ROCK, Ark., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) announced today that, in an order dated November 4, 2020, the United States District Court for the District of Delaware has dismissed all claims asserted by SLF Holdings, LLC (“SLF”) in a securities action lawsuit against the Company, Uniti Fiber Holdings Inc. and certain of the Company’s current and former officers, in connection with Uniti Fiber’s purchase of Southern Light, LLC from SLF in July 2017. The Court’s order held that amendment of the complaint would be futile and dismissed SLF’s claims with prejudice.
The lawsuit had alleged that defendants failed to disclose certain risks related to Windstream Holdings, Inc.’s lawsuit with Aurelius Capital Management and Windstream’s subsequent bankruptcy. The court rejected all such claims noting that Uniti’s public disclosures of these matters were sufficient and that SLF failed to show that defendants “conspired to hide risks and purposefully mislead investors.”
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of June 30, 2020, Uniti owns 6.5 million fiber strand miles and other communications real estate throughout the United States. Additional information about Uniti can be found on its website at www.uniti.com.
INVESTOR AND MEDIA CONTACTS:
Mark A. Wallace, 501-850-0866
Executive Vice President, Chief Financial Officer & Treasurer
Bill DiTullio, 501-850-0872
Vice President, Finance and Investor Relations
Source: Uniti Group Inc.