Charter Communications(US:CHTR) Globenewswireยท2025-10-01 23:47Core Viewpoint - A corrected notice has been issued regarding the deadline for investors to seek appointment as Lead Plaintiff in a class action lawsuit against Charter Communications, with the new deadline set for October 14, 2025 [1][3]. Group 1: Class Action Details - The class action, titled Sandoval v. Communications, Inc., is filed on behalf of individuals who purchased or acquired Charter common stock or traded relevant options between July 26, 2024, and July 24, 2025 [2]. - The lawsuit alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act and SEC Rule 10b-5, claiming that the defendants failed to disclose material adverse facts about the company's operations and outlook [2]. Group 2: Allegations Against Charter - The complaint asserts that the defendants made misleading statements regarding the impact of the FCC's Affordable Connectivity Program (ACP) ending, which affected internet customer declines and revenue [5]. - It is claimed that Charter's management did not adequately address the consequences of the ACP ending, leading to greater risks to business plans and earnings growth than reported [5]. Group 3: Financial Performance and Market Reaction - Charter reported an EBITDA of $5.7 billion for Q2 2025, reflecting a 0.5% year-over-year growth, but this was largely due to a one-time benefit of $45 million, which, if excluded, would have resulted in a 2.4% miss against consensus estimates and a 0.3% decline year-over-year [6]. - The company experienced a loss of 117,000 internet customers in Q2 2025, nearly double the loss of 66,000 in the previous quarter and an increase from a loss of 99,000 customers in Q2 2024 [7]. - Following the financial results announcement, Charter's stock price fell by $70.25 per share, or 18.4%, closing at $309.75 on July 25, 2025 [7].