Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Altice USA, Inc. Investors (ATUS)
LOS ANGELES--(BUSINESS WIRE)--Dec 5, 2018--Glancy Prongay & Murray LLP (“GPM”), a global investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired Altice USA, Inc. (“Altice” or the “Company”) (NYSE: ATUS ) securities pursuant and/or traceable to the Company’s initial public offering (“IPO”) in June 2017. Altice investors have until January 18, 2019 to file a lead plaintiff motion.
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The complaint filed in this class action 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.
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If you purchased shares of Altice during the Class Period you may move the Court no later than January 18, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181205005891/en/
CONTACT: Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
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PUB: 12/05/2018 07:15 PM/DISC: 12/05/2018 07:15 PM