Crown Castle Inc. - $CCI STOCK NEWS

Boots Capital Management, criticizes Crown Castle Inc.'s board for a decade of underperformance and failure to deliver promised changes. They propose four highly qualified director nominees who plan to optimize fiber assets, improve tower operations, and create long-term shareholder value.

Boots Capital Management urges shareholders to disregard Crown Castle's misleading investor presentation and focus on the qualifications of the director candidates. Despite false claims, Boots Capital is not seeking control but aims to work collaboratively with Crown Castle's Board and new CEO. The Board's refusal to engage constructively has led to negative performance relative to peers since 2020. Shareholders are encouraged to vote for Boots Capital's four highly qualified nominees to drive long-term value.

Crown Castle Inc. announced steps to drive shareholder value creation, appointing a new CEO, enhancing the board, and presenting a strategic plan to maximize shareholder value. The Company urges shareholders to vote for its director nominees at the 2024 Annual Meeting.

Boots Capital Management, released a presentation urging urgent change in Crown Castle's Board of Directors due to poor judgment, resulting in years of stock price underperformance, debt-fueled dividend, mishandled CEO succession, loss of talent, and operational missteps. Their nominees aim to enhance operational excellence and unlock value for shareholders.

Crown Castle Inc. highlights actions taken by its Board to strengthen the company's foundation and position it for long-term value creation. The Board urges shareholders to vote 'FOR' only Crown Castle's 12 qualified director nominees on the white proxy card. The company emphasizes the importance of protecting investments and the future of Crown Castle by supporting the current Board's initiatives. The appointment of Steven J. Moskowitz as the new President and CEO, the ongoing strategic review of the fiber and small cell business, and the addition of independent directors demonstrate the commitment to enhancing shareholder value. Despite challenges from Ted Miller and Boots Capital Management, Crown Castle remains focused on progress and value creation.

Boots Capital criticizes Crown Castle's leadership for significant destruction of shareholder value and failed operational strategy. They urge shareholders to vote for their four director nominees and withhold votes on all Crown Castle nominees. The company has filed definitive proxy materials and launched a website to support their cause.

Crown Castle Inc. issued a statement addressing Ted Miller's attempt to disrupt the company's momentum. Ted Miller is seeking to prevent the company from expanding its Board, leading to a lawsuit. Despite the dispute, Steven Moskowitz won't be included as a director nominee for the 2024 Annual Meeting. The company's focus remains on creating value for shareholders.

Crown Castle Inc. reported its first-quarter 2024 results, maintaining its full-year 2024 outlook. Site rental revenues declined by 2%, net income decreased by 26%, and Adjusted EBITDA dropped by 6% compared to the same period in 2023. Despite these declines, the company remains focused on customer service and shareholder value. The appointment of a new President and CEO is expected to drive strategic and operational growth.

Delaware Court of Chancery grants expedition and discovery in hearing on Crown Castle's last-minute expansion of board, leading to potential delay of annual meeting and shareholder remedies. Boots Capital Management seeks to investigate the legitimacy of the board's actions, highlighting governance and strategic blunders costing shareholders billions. The court grants expedited discovery into a breach of fiduciary duty claim against Crown Castle's Board of Directors for expanding board seats during an ongoing proxy contest, potentially affecting the fairness of director elections.