Lovell Stewart Halebian LLP Files Class Action Suit against American Tower Corporation

The lawsuit alleges that American Tower and two of its officersviolated Sections 10(b) and 20(a) of the Securities Exchange Act of1934 ("Exchange Act"). American Tower is a wireless and broadcastcommunications infrastructure company that is located in Boston,Massachusetts.

According to the amended complaint, the defendants allegedly madematerially false and misleading statements about American Tower'sfinancial results during the Class Period, that were in Securities andExchange Commission ("SEC") filings, causing American Tower to tradeat artificially inflated prices. In particular, the complaint statesthat defendants allegedly failed to disclose that: (a) insiders of theCompany were engaged in self-dealing involving the backdating ofoptions granted to them to receive a favorable price; and (b) theCompany misstated its earnings and expenses as a result of optionbackdating.

In addition, the amended complaint alleges that the defendantsfalsely stated that they had complied with the reporting requirementsof the SEC and United States Generally Accepted Accounting Principles.

As an alleged result of the above-mentioned alleged fraudulentactivities, shares of American Tower dropped from $34.76 on May 11,2006 to $30.30 on May 24, 2006.

Lovell Stewart Halebian LLP has represented investors in numerousfinancial class actions and obtained, what were at the time, thelargest class action recoveries under three separate federal statutes.If you purchased, sold put contracts of, or otherwise acquiredAmerican Tower common stock during the Class Period, you may requestthat the Court appoint you as lead plaintiff no later than 60 daysfrom May 30, 2006. A lead plaintiff is a representative party thatacts on behalf of other class members in directing the litigation. Inorder to be appointed lead plaintiff, the Court must determine thatthe class member's claim is typical of other class members, and thatthe class member will adequately represent the class. Under certaincircumstances, one or more class members may together serve as "leadplaintiff." Your ability to share in any recovery is not, however,affected by the decision whether or not to serve as a lead plaintiff.You may retain Lovell Stewart Halebian LLP, or other counsel of yourchoice, to serve as your counsel in this action. If you would like toview a copy of the complaint, discuss this action, this announcement,or your rights and interests, please contact plaintiff's counsel,Christopher Lovell or Imtiaz A. Siddiqui of Lovell Stewart HalebianLLP.