According to the Complaint, Uniti Group Inc (formerly known as Communications Sales & leasing, Inc.) identifies itself as a real estate investment trust ("REIT") specialized in acquisition and construction of essential-to-survival infrastructure in the communications industry.

The Complaint alleges that during the Class Period, the Company made materially false and/or misleading statements, misrepresenting and failing to disclose the following adverse facts pertaining to the Company's business, operations, and prospects, which were known to Defendants or recklessly disregarded by them: (i) Uniti's financial results were not sustainable because its customer Windstream had defaulted on its unsecured notes; and (ii) as a result of the foregoing, Defendants' statements about Uniti's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.