December 13, 2007 / 10:56 PM / 12 years ago

American Tower reaches settlement in securities class action

Dec 13 (Reuters) - Telecoms infrastructure firm American Tower Corp (AMT.N) said it settled in principle a securities class action related to its historical stock-option granting and accounting practices and expects to record a related charge in the fourth quarter.

The settlement, which is 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. (Reporting by Aditi Samajpati in Bangalore; Editing by Pratish Narayanan)

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