Windstream Stockholder Suit Advances with Uniti Sale Allegation

Windstream Holdings Corp. failed to convince a federal court that a securities violation lawsuit from a EarthLink Holdings Corp. stockholder should be dismissed under a statute of repose after he built on allegations relating to a real estate deal with Uniti Group Inc in a second complaint.

Robert Murray alleged that despite Windstream submitting documents that demonstrated a thriving business that would continue paying dividends, Windstream filed Chapter 11 bankruptcy in 2017, five months after merging with EarthLink. His second amended complaint in the US District Court for the District of Arkansas said that in 2015 Windstream sold assets ...