Altice reaches $72 mln settlement with New York over response to Tropical Storm Isaias

NEW YORK, March 18 (Reuters) - Altice has reached a nearly $72 million settlement to resolve New York state claims the phone and cable TV provider failed to adequately prepare for and respond to Tropical Storm Isaias last August, when more than 400,000 customers lost service, Governor Andrew Cuomo said on Thursday.

The settlement is the largest for any company overseen by the state’s Public Service Commission for failing to follow procedures related to an emergency response, Cuomo said.

Altice will spend $68.54 million on system upgrades, including storm responses, and has provided $3.4 million in customer credits.

Reporting by Jonathan Stempel in New York Editing by Chris Reese