Can Pinnacle Emerge From Under SEC Cloud?(Securities and Exchange Commission)(Government Activity)

Wireless Week, June, 2001 by McCall, Margo

New Independent Auditor Could Make A Difference

Just last August, it seemed that Pinnacle Holdings Inc. was at the top of the tower game. Like its competitors, Pinnacle was spending and raising money as fast as it could. The publicly traded company had just paid $200 million for several collocation facilities and about $100 million for 900 sites for its portfolio. It also had a master lease agreement with Cell-Loc and a money-raising public offering of 8 million shares ready to go.

Then the Securities and Exchange Commission came calling with an inquiring that eventually caused Pinnacle's stock to drop and crippled the company financially. Now Pinnacle is trying to emerge from under the cloud and re-establish its place in the tower industry....

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