Holzer Holzer & Fistel, LLC Announces Class Action Lawsuit
Class Action News
Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of New York on behalf of purchasers of Cablevision Systems Inc. common stock who purchased shares between February 16, 2011 and October 28, 2011, inclusive.
The lawsuit alleges, among other things: (i) that Cablevision was experiencing higher retention and advertising costs; (ii) that Cablevision was losing more video customers than expected, especially in the New York area -- the Company's main service area -- due to increased competition; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
If you purchased Cablevision common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than March 26, 2012.
Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Cablevision investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
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