We are investigating Crown Castle International Corp. (CCI) (“Crown Castle” or the “Company”) for potential violations of the federal securities laws.
On February 26, 2020, Crown Castle disclosed that its historical accounting practice with respect to recognizing servicing revenues from its tower installation services “was not acceptable under GAAP.” The Company advised investors 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. On this news, Crown Castle’s stock price fell sharply during intraday trading on February 27, 2020.