NEW YORK, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Altice USA, Inc. (NYSE: ATUS) shares pursuant to and/or traceable to Altice’s Initial Public Offering (“IPO) on or about June 22, 2018. Investors have until January 18, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that the offering documents issued pursuant to the IPO failed to disclose and/or misstated material information, including 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) 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 USA could not simply replicate the “The Altice Way” in the U.S. and (5) as a result, Altice USA’s offering documents were materially misleading at all relevant times.
If you purchased or otherwise acquired Altice shares pursuant to and/or traceable to the IPO and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Altice lawsuit, please go to http://www.bespc.com/atus/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com