NEW YORK, July 10, 2018 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C. is investigating potential claims against Altice USA, Inc. (NYSE:ATUS) Our investigation concerns whether Altice has violated the federal securities laws and/or engaged in other unlawful business practices.
The 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.
If you purchased or otherwise acquired Altice shares during 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 firstname.lastname@example.org, 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 our investigation into Altice USA, Inc. please go to http://www.bespc.com/altice. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.