NEW YORK, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Altice USA, Inc. (“Altice” or the “Company”) (ATUS) of the January 18, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Altice USA, Inc. stock or options pursuant to the Company’s Initial Public offering on or around June 22, 2017 (The “IPO”) and would like to discuss your legal rights, click here: www.faruqilaw.com/ATUS. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased Altice securities pursuant to the Company’s IPO. The case, Kupfner v. Altice USA, Inc., et al., No. 18-cv-06601 was filed on November 19, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failed to disclose that: (1) “The Altice Way” proprietary growth model previously developed in Europe and described in the Offering Documents as a means to achieve superior margin performance was falsely touting Altice’s capacity to face already existing highly competitive environments and ever-changing consumer behaviors; (2) Altice was suffering from aggressively growing competition both in Europe and the United States, directly causing negative and decelerating revenue and EBITDA growth and impacting Altice’s market share; (3) more specifically, Altice was suffering from mismanaged rate events, regulatory compliance and poorly managed network and customer care both in its France and Portugal segments, thereby impacting its customer base and churn rate, (4) Altice could not simply replicate the “The Altice Way” in the U.S. and (5) as a result, Altice’s Offering Documents were materially misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Altice’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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