American Tower Reaches $14 Million Settlement in Securities Class Action Lawsuit

American Tower Corp. said that it settled “in principle” a securities class action lawsuit related to its historical stock-option granting and accounting practices and expects to record a related charge in the Q4, 2007.

The settlement, subject to final approval by a court, provides for a payment of $14 million by American Tower and a dismissal of all claims against all defendants in the litigation, the company said in a statement.

The consolidated securities class action was filed against the company in May 2006.
Source: Reuters

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