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ATUS

Altice USA

$21.44

-0.155 (-0.72%)

08:07
02/20/19
02/20
08:07
02/20/19
08:07

Judge orders Altice USA to maintain 'Status Quo' staffing at News 12 in lawsuit

In a court order dated February 13, the Honorable Joseph Slights III, Judge, Court of Chancery, State of Delaware, ordered Altice USA to maintain "Status Quo" staffing levels at News 12 for the remainder of the lawsuit and scheduled trial for September 4 - 6, announced the Dolan Family. The ruling prohibits Altice from reducing positions for News 12 staff until the matter is resolved by the Court. The order states, "During the pendency of this Action in this Court, Altice shall not terminate any News 12 employee other than (i) for actual, bona fide cause or (ii) after first obtaining prior permission from the Court." In a separate action on February 13, the Court scheduled a hearing for April 22 regarding the Altice USA motion to dismiss the case. Plaintiffs note that the motion to dismiss is a routine legal maneuver frequently attempted by defendants. Plaintiffs fully anticipated the motion and will vigorously oppose it. The Dolan v. Altice USA lawsuit contends that Altice must maintain staffing levels based on commitments it made when it acquired News 12 in 2016. Altice is no stranger to lawsuits, with records showing Altice as a party to 235 lawsuits worldwide for the three years 2016 to 2018.

  • 11

    Mar

ATUS Altice USA
$21.44

-0.155 (-0.72%)

12/07/18
WOLF
12/07/18
INITIATION
Target $22
WOLF
Outperform
Altice USA initiated with an Outperform at Wolfe Research
Wolfe Research initiated Altice USA with an Outperform rating and $22 price target.
01/14/19
GSCO
01/14/19
DOWNGRADE
Target $110
GSCO
Neutral
Crown Castle downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Brett Feldman downgraded Crown Castle (CCI) to Neutral and lowered his price target for the shares to $110 from $116. The analyst believes tower stocks are appropriately priced given his expectations for growth in 2019. "Near-peak growth expectations" are priced in at current share levels, Feldman tells investors in a research note. The analyst also laid his top picks in Americas Telecom Services. His favorite defensive stock is Verizon (VZ), his favorite value stock is Altice USA (ATUS), his most catalyst driven idea is Zayo Group (ZAYO) and his top data center operator is Equinix (EQIX).
01/15/19
NOMU
01/15/19
INITIATION
Target $25
NOMU
Buy
Altice USA initiated with a Buy at Nomura Instinet
Nomura Instinet analyst Gregory McNiff started Altice USA with a Buy rating and $25 price target. The company is well positioned to sustained "best-in-class" margins while "industry-high" usage drives broadband average revenue per user growth, McNiff tells investors in a research note.
01/16/19
01/16/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Mercantil Bank (AMTB) initiated with a Buy at SunTrust. 2. ViewRay (VRAY) initiated with a Buy at Guggenheim. 3. PTC (PTC) initiated with a Buy at Deutsche Bank. 4. Altice USA (ATUS) and Charter (CHTR) were initiated with a Buy at TD Securities. Charter (CHTR) was also initiated with a Neutral at Nomura Instinet. 5. Take-Two (TTWO) initiated with a Buy at Gabelli. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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DJX

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IYT

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XLK

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$81.29

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XLE

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XLY

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VZ

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$59.91

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SPY

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GIS

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