Charter Communications(US:CHTR) Prnewswireยท2025-10-07 10:00Core Viewpoint - The Charter Communications class action lawsuit alleges that the company and its executives made misleading statements regarding the impact of the Federal Communications Commission's Affordable Connectivity Program (ACP) ending, which affected customer declines and revenue growth [4][5]. Group 1: Lawsuit Details - The class action lawsuit is titled Sandoval v. Charter Communications, Inc., No. 25-cv-06747 (S.D.N.Y.) and involves purchasers or acquirers of Charter Communications securities from July 26, 2024, to July 24, 2025 [1]. - Investors have until October 14, 2025, to seek appointment as lead plaintiff in the lawsuit [2][6]. Group 2: Allegations Against Charter Communications - The lawsuit claims that Charter Communications failed to manage the impact of the ACP ending, which led to a decline in Internet customers and revenue [4]. - It is alleged that the company did not execute broader operations effectively to compensate for the ACP's end, resulting in greater risks to business plans and earnings growth than reported [4]. - The lawsuit highlights that Charter Communications had no reasonable basis for optimistic statements regarding its operations and EBITDA growth [4]. Group 3: Financial Impact - On July 25, 2025, Charter Communications reported second quarter 2025 financial results, showing EBITDA of $5.7 billion, indicating a growth of 0.5%, alongside a loss of 117,000 Internet customers, which included approximately 50,000 disconnects due to the ACP's end [5]. - Following this announcement, Charter Communications' stock price fell by more than 18% [5]. Group 4: Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [7]. - The firm has been ranked 1 in securing monetary relief for investors in securities class action cases for four out of the last five years [7].