NEW YORK, Dec. 3, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Altice USA, Inc. ("Altice" or the "Company") (NYSE: ATUS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Altice and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around June 21, 2017, Alice conducted its initial public offering ("IPO"), selling 71,724,136 shares of common stock priced at $30.00 per share and raising net proceeds of approximately $362 million. Less than five months later, on November 3, 2017, during a conference call to discuss the financial results for Altice's 2017 third fiscal quarter, a director of Altice stated that the Company had "seen a year-over-year deterioration in both France and Portugal in Q3 as a result of mismanaged rate events in both countries" and that "not everything is going right here at the moment". Then, on November 15, 2017, during the Morgan Stanley TMT Conference, the Company's Chairman and Executive Director admitted that the Company had never applied "the Altice Way"—a purported proprietary growth model developed by Altice in Europe—to its operations in France. Since the IPO, the value of Altice's common stock has fallen more than 40%.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP