NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, is investigating whether Altice USA, Inc. (“Altice USA” or the “Company”) (NYSE: ATUS) or certain of its officers and directors violated federal securities laws. If you purchased Altice USA stock in or after the Company’s June 2017 initial public offering (“IPO”), you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information.
Altice USA is one of the largest broadband communications and video services providers in the United States.
This investigation concerns whether Altice USA’s filings with the U.S. Securities and Exchange Commission in connection with the IPO contained untrue statements of material fact or omitted material information, specifically regarding the Company’s relationship with its parent company, Altice N.V. The 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 and Altice N.V. executives held a joint conference call wherein the Company announced declining revenue, margin and earnings in European markets. Moreover, the Company’s then-CEO, Michael Combes, admitted that “not everything is going right here at the moment.”
By the close of November 2017, Altice USA shares traded down to approximately $18 per share, a 40% decline from the $30 IPO price.
What You Can Do
If you purchased Altice USA common stock in or traceable to the IPO, and you wish to discuss this investigation, please contact attorney Rhiana Swartz at (844) 818-6980, or at firstname.lastname@example.org, or visit the Altice USA investigation page on our website at https://scott-scott.com/investigation/alticeusa/.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.