Charter Communications(US:CHTR) Globenewswire·2025-10-10 12:18Core 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]. Company Overview - Charter Communications is a leading broadband and cable operator that participated in the FCC's Affordable Connectivity Program (ACP), which provided funding to subsidize high-speed internet plans for low-income households [3]. Legal Context - The lawsuit asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Charter securities, with the case pending in the U.S. District Court for the Southern District of New York [2]. Impact of ACP Termination - The ACP ended in June 2024 due to a lack of federal funding, leading to customer declines at Charter. The company had previously communicated to investors that it was managing the risks associated with the end of the ACP, claiming that the impact was behind them [3][4]. Financial Performance - In the second quarter of 2025, Charter reported a decrease of 117,000 total internet customers, with approximately 50,000 disconnects attributed to the end of the ACP, nearly double the disconnects from the previous quarter. Following this announcement, Charter's stock price fell by $70.25 per share, or 18.4%, from $380.00 to $309.75 [5].