American Tower Corporation under Investor Investigation in connection with Subpoena from the SEC

June 7, 2011 - PRLog -- After American Tower Corp. disclosed that it received a subpoena from the U. S. Securities and Exchange Commission an investigation on behalf of investors of American Tower Corporation  concerning possible violations of Federal Securities Laws was announced.

If you purchased shares of American Tower Corporation , and/or if you have information relating the investigation including former employees and/or whistleblowers, you have certain options and you should contact the Shareholders Foundation by email mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether American Tower Corporation or others have violated federal securities laws by issuing false and misleading statements to its shareholders and/or whether certain officers and directors at American Tower Corp. breached their fiduciary duty.

American Tower’s 12months Total Revenue rose from $1.456billion in 2007 to $1.985billion in 2010. Its Net Income surged from $56.32million in 07 to $372.94million in 2010. For the first quarter in 2011 American Tower Corporation reported a quarterly Total Revenue of $562.70million compared to a quarterly Revenue of $454.43million a year earlier.

Shares of American Tower Corporation (Public, NYSE-AMT) increased from as low as $27.24 per share in November 08 to as high as $56.73 per share on February 2011.

Then on Friday, June 3rd, American Tower Corporation disclosed in a filing that its received a subpoena from the U. S. Securities and Exchange Commission (“SEC”) requesting certain documents from 2007 through the present, including in particular documents related to American Tower’s tax accounting and reporting.

Shares of American Tower Corporation (NYSE AMT) fell from $55.48 per share on May 31 to $50.94 on June 3rd.  

Those who purchased shares of American Tower Corporation (Public, NYSE-AMT), and/or those who have information relating the investigation including former employees and/or whistleblowers, have certain options and  should contact the Shareholders Foundation by email mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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The Shareholders Foundation, Inc. is a professional portfolio monitoring service and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.