Welcome to the Altice USA Securities Litigation Settlement Website.
The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.
Plaintiffs Have Reached a Proposed Settlement, Subject to Court Approval
The Court-appointed Lead Plaintiffs, on behalf of themselves and the proposed Settlement class (consisting of all persons or entities, except those who are excluded as described in the Stipulation of Settlement, who purchased or otherwise acquired shares of Altice common stock between June 22, 2017 and November 2, 2017, inclusive), have reached a proposed global settlement (the “Settlement”) of two related actions, namely (i) In re Altice USA, Inc. Sec. Litig., Master Index No. 711788/2018 (the “State Action”) and (ii) Kupfner v. Altice USA, Inc., et al., Case No. 1:18-CV-06601 (the “Federal Action”) (the “Actions”), for (a) a cash payment of $4,750,000 (the “Settlement Amount”) and (b) defendants payment of up to $200,000 of Notice of Administration Costs associated with the Settlement. The Settlement, if approved by the Court, will resolve all claims in both Actions.
Your Rights in the Proposed Settlement
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the proceeds of the Settlement, if it receives final Court approval. The Class certified by the Court includes all persons or entities who purchased or otherwise acquired Altice USA common stock between June 22, 2017 and November 2, 2017, inclusive, except those persons or entities that are excluded, as described below.
You are not a Class Member if you are: (a) Defendants; (b) the Defendants’ respective successors and assigns; (c) the past and current executive officers and directors of Altice, Altice Europe N.V., and the Underwriter Defendants; (d) the members of the immediate families of the Individual Defendants; (e) the legal representatives, heirs, successors or assigns of any excluded person. Also excluded from the Settlement Class is any person or entity who timely and validly requests exclusion from the Settlement Class as set forth in the Notice.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu at the top of this page.
If you are a member of the Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked no later than March 29, 2022.
Payments to eligible claimants will be made only after the Settlement and a Plan of Allocation are approved by the Court and any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
IMPORTANT DATES AND DEADLINES
| Date | Deadline |
|---|---|
| MARCH 29, 2022 | Claim Filing Deadline: Claim Forms must be postmarked no later than MARCH 29, 2022 to be eligible for a payment from the Settlement. |
| FEBRUARY 3, 2022 | Exclusion Deadline: If you do not want a payment from this settlement, but you want to keep the right to sue or continue to sue any of the Defendants on your own about the same legal issues in this case, then you must take steps to get out of the Class. This is called excluding yourself or is sometimes referred to as opting out of the Class. Requests to be excluded from the proposed Settlement must be received no later than FEBRUARY 3, 2022, in accordance with the instructions in the Notice. |
| FEBRUARY 3, 2022 | Objection Deadline: Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Plaintiff’s counsel’s request for an award of attorneys’ fees and expenses, must be received no later than FEBRUARY 3, 2022, in accordance with the instructions in the Notice. |
| FEBRUARY 24, 2022 at 9:30 a.m. | The Final Approval Hearing: A hearing will be held on FEBRUARY 24, 2022 at 9:30 a.m. 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).
The Hearing will be held by the Court for the purpose of determining whether the proposed Settlement is fair, reasonable, and adequate and should be approved by the Court; whether an Order and Final Judgment as provided in the Stipulation of Settlement should be entered; and whether the proposed Plan of Allocation should be approved. If there are objections, the Court will consider them and will listen to people who have asked to speak at the hearing. The Court may also decide how much should be awarded to Plaintiffs’ Counsel for attorneys’ fees and expenses, and whether to approve service awards totaling no more than $14,000 in the aggregate to the Plaintiffs for their service to the Settlement Class. |