NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, reminds investors that a class action lawsuit has been filed against Altice USA, Inc. (“Altice” or the “Company”) (NYSE: ATUS) and other defendants, related to alleged violations of federal securities laws. If you purchased Altice securities pursuant and/or traceable to the Company’s initial public offering (“IPO”) in June 2017, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information. The lead plaintiff deadline is January 18, 2019.
Altice is a telecommunications company.
The lawsuit alleges that the Offering Documents issued pursuant to Altice’s IPO 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) 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.
The June 2017 IPO was priced at $30 per share. As of the filing of the lawsuit, Altice was trading around $17 per share – a decline of over 43% from the IPO price.
What You Can Do
If you purchased Altice securities in or traceable to the Company’s IPO, or if you have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at rswartz@scott-scott.com.
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.
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