Scott+Scott Attorneys at Law LLP Announces Proposed Settlement of the Altice USA, Inc. Securities Litigation

Published: Dec. 2, 2021 at 6:00 AM AKST

NEW YORK, Dec. 2, 2021 /PRNewswire/ --

SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF QUEENS: COMMERCIAL DIVISION

IN RE ALTICE USA, INC. SECURITIES
LITIGATION

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Master Index No. 711788/2018

 

Commercial Division

 

Hon. Joseph Risi, J.S.C.

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING;
AND (III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES

TO:  All persons and entities who purchased or otherwise acquired the publicly traded common stock of Altice USA, Inc. ("Altice") during the period between June 22, 2017 (the date of Altice's IPO) and November 2, 2017, inclusive (the "Class Period") and were damaged thereby (the "Settlement Class"):1

YOU ARE HEREBY NOTIFIED, pursuant to Article 9 of the New York Civil Practice Law and Rules and an Order of the Supreme Court of the State of New York, Queens County, Commercial Division (the "Court"), that the above-captioned litigation (the "Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that the plaintiffs in this Action, Ryan Newman, Andrew O'Neill and Brian LaPoint (the "State Plaintiffs"), together with plaintiffs Andrea Hadzimichaelis Garfield Anderson, Stephanie Garcia and Franck Chauvin (the "Federal Plaintiffs") in a related action captioned Kupfner v. Altice USA, Inc., et al., Case No. 1:18-cv-06601 (FB)(LB) (E.D.N.Y.) (the "Federal Action"), have reached a proposed settlement of both Actions for $4,750,000 in cash plus payment of up to $200,000 in Notice and Administration Costs (the "Settlement") on behalf of the Settlement Class, that, if approved, will resolve all claims in both Actions.

A hearing will be held on February 24, 2022 at 9:30 a.m. Eastern Time, before the Honorable Joseph Risi, either in person at the Queens County Courthouse, Courtroom 26, 88-11 Sutphin Boulevard, Jamaica, NY 11435, or by telephone or videoconference (at the discretion of the Court).  At the hearing, the Court will determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated as of July 16, 2021 (and in the Notice) should be granted; (iii) whether, for purposes of the proposed Settlement only, the Action should be finally certified as a class action on behalf of the Settlement Class, State Plaintiffs should be certified as Class Representatives for the Settlement Class, and Scott+Scott Attorneys at Law LLP should be finally appointed as Class Counsel for the Settlement Class; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Plaintiffs' Counsel's application for an award of attorneys' fees and reimbursement of litigation expenses should be approved.

If you are a member of the Settlement Class (a "Settlement Class Member"), your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund.  If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator, Analytics Consulting, LLC by mail at Altice USA Securities Litigation, c/o Analytics Consulting, LLC, P.O. Box 2007, Chanhassen, MN 55317-2007, or by toll-free phone at (877) 446-1605.  Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.AlticeUSASettlement.com.

If you are a Settlement Class Member, to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked (if mailed), or online, no later than MARCH 29, 2022, in accordance with the instructions set forth in the Claim Form. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement, but you will nevertheless be bound by any releases, judgments, or orders entered by the Court in the Action.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than FEBRUARY 3, 2022, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Plaintiffs' Counsel's Fee and Expense Application, must be filed with the Court and delivered to Class Counsel and the Altice Defendants' Counsel such that they are received no later than FEBRUARY 3, 2022, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, Altice, the other Defendants, or their counsel regarding this notice.  All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Class Counsel or the Claims Administrator.

Inquiries, other than requests for the Notice and Claim Form, should be made to Class Counsel:

SCOTT+SCOTT ATTORNEYS AT LAW LLP
William C. Fredericks, Esq.
The Helmsley Building
230 Park Ave, 17th Floor
New York, NY 10169
(800) 404-7770
wfredericks@scott-scott.com  

Requests for the Notice and Claim Form should be made to:

Altice USA Securities Litigation   
c/o Analytics LLC
PO Box 2007
Chanhassen, MN  55317-2007
(877) 446-1605
www.AlticeUSASettlement.com

DATED: DECEMBER 2, 2021

BY ORDER OF THE SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF QUEENS: COMMERCIAL DIVISION

1 Certain persons and entities are excluded from the Settlement Class by definition, as set forth in the long-form Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Attorneys' Fees and Litigation Expenses (the "Notice"), a copy of which may be downloaded from the settlement website maintained by the Claims Administrator at www.AlticeUSASettlement.com.

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SOURCE Scott + Scott Attorneys at Law LLP

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