NEW YORK, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against DigitalOcean Holdings, Inc. (NYSE: DOCN), and Altice USA, Inc. (NYSE: ATUS). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
DigitalOcean Holdings, Inc. (NYSE: DOCN)
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. DigitalOcean announced on August 3, 2023, that it had made errors on previous financial statements. According to the Company, "In connection with the preparation of our unaudited condensed consolidated financial statements for the period ended June 30, 2023, we identified certain errors within the unaudited condensed consolidated financial statements for the quarter ended March 31, 2023 as included in our Quarterly Report on Form 10-Q for the three months ended March 31, 2023 filed on May 9, 2023. Specifically, there were errors in our accounting for income tax expense primarily relating to the calculation of certain capitalized research or experimental expenditures under Section 174 of the Internal Revenue Code of 1986 which impacted our income tax provision ("Section 174 Error"). Primarily as a result of the Section 174 Error, accrued taxes as of March 31, 2023 were overstated and the income tax expense for the three months ended March 31, 2023 was overstated by approximately $18 million."
For more information on the DigitalOcean investigation go to: https://bespc.com/cases/DOCN
Altice USA, Inc. (NYSE: ATUS)
On July 25, 2023, media outlets reported that Altice co-founder and former Chief Operating Officer Armando Pereira had been placed under house arrest in Portugal in connection with an investigation into alleged corruption, tax fraud and money laundering at Altice Portugal.
On this news, Altice's stock price fell $0.25 per share, or 7.25%, to close at $3.20 per share on July 25, 2023.
For more information on the Altice investigation go to: https://bespc.com/cases/ATUS
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.