Charter Communications(US:CHTR) Globenewswire·2025-09-22 11:02Core Viewpoint - A lawsuit has been filed against Charter Communications, Inc. and certain senior executives for potential violations of federal securities laws, particularly related to the impact of the Affordable Connectivity Program's termination on the company's customer base and earnings [1][2][3]. Company Overview - Charter Communications is a leading broadband and cable operator that participated in the FCC's Affordable Connectivity Program, which provided funding to subsidize high-speed internet plans for low-income households [3]. Legal Context - The lawsuit is based on claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, with the case pending in the U.S. District Court for the Southern District of New York, captioned Sandoval v. Charter Communications, Inc. [2]. Financial Impact - Following the termination of the Affordable Connectivity Program in June 2024 due to lack of federal funding, Charter experienced customer declines, which the company initially downplayed [3][4]. - In the second quarter of 2025, Charter reported a decrease of 117,000 total internet customers, including approximately 50,000 disconnects related to the end of the ACP, nearly double the disconnects from the previous quarter [5]. Stock Performance - On July 25, 2025, after announcing the second quarter results, Charter's stock price fell by $70.25 per share, or 18.4%, from $380.00 to $309.75 [5].