DENVER--(BUSINESS WIRE)--The Shuman Law Firm announces that it is investigating potential shareholder claims against certain officers and directors of Altice USA, Inc. (“Altice USA” or the “Company”) (NYSE: ATUS). Altice USA is a Long Island City, New York-based company that provides broadband communications and video services in the United States.
Altice USA went public in June 2017 with an Initial Public Offering (“IPO”) raising approximately $2.15 billion on the issuance of approximately 71 million shares at $30 per share. The firm is investigating whether certain statements in Altice’s Registration Statement filed with the Securities and Exchange Commission in connection with the Company’s IPO contained false and/or misleading statements. These filings stated that the Company had a “competitive advantage” and touted Altice USA’s network and customer platform technologies. Despite these purported strengths, on November 3, 2017, senior Altice USA executives held a joint conference call wherein the Company announced declining revenue, margin and earnings in both France and Portugal. Moreover, the Company’s then CEO, Michael Combes, admitted that “not everything is going right here at the moment.” The Company’s stock fell approximately 14% following these events.
If you bought Altice USA common stock in the IPO or subsequently thereafter and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at email@example.com or Mr. Glenn at firstname.lastname@example.org.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.