Oakmark Funds, advised by Harris Associates, released its “Oakmark Equity and Income Fund” Q3 2025 investor letter. A copy of the letter can be downloaded here. In the quarter, the Fund (Class I Shares) underperformed the 60% S&P 500 / 40% Bloomberg U.S. Aggregate Bond Index and outperformed the benchmark since inception. The equity portfolio returned 3.64% in the third quarter compared to 8.12% for the S&P 500 Index. The fixed income portfolio returned 2.40% compared to 2.03% for the Bloomberg U.S. Aggreg ...

Core 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].

Core Viewpoint - The article discusses a class action lawsuit against Charter Communications, alleging violations of the Securities Exchange Act of 1934 due to misleading statements and failure to disclose significant impacts on the company's performance related to the end of the Federal Communications Commission's Affordable Connectivity Program [1][4]. Group 1: Lawsuit Details - The class action lawsuit is titled Sandoval v. Charter Communications, Inc., and it 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]. - The lawsuit alleges that Charter Communications and its executives made false statements regarding the company's ability to manage the impact of the Affordable Connectivity Program's end, which affected customer retention and revenue [4]. Group 2: 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% [5]. - The company experienced a decline of 117,000 Internet customers, with approximately 50,000 disconnects attributed to the end of the Affordable Connectivity Program [5]. - Following the financial results announcement, Charter Communications' stock price fell by more than 18% [5]. Group 3: Company Background - Charter Communications operates as a broadband connectivity and cable operator, serving both residential and commercial customers [3]. - Robbins Geller Rudman & Dowd LLP, the law firm representing the investors, is recognized for its significant recoveries in securities fraud cases, having recovered over $2.5 billion for investors in 2024 alone [7].

Core Viewpoint - A class action lawsuit has been filed against Charter Communications, alleging violations of the Securities Exchange Act of 1934 due to misleading statements regarding the impact of the Federal Communications Commission's Affordable Connectivity Program (ACP) on the company's performance [1][4]. Group 1: Lawsuit Details - The lawsuit, titled Sandoval v. Charter Communications, Inc., seeks to represent purchasers or acquirers of Charter Communications securities, including call options and put options [1]. - Allegations include that Charter Communications failed to disclose the material impact of the ACP's end, which led to a decline in Internet customers and revenue [4]. - The lawsuit claims that the company did not manage the consequences of the ACP ending effectively, resulting in greater risks to business plans and earnings growth than reported [4]. Group 2: Financial Impact - On July 25, 2025, Charter Communications reported second quarter 2025 financial results, showing EBITDA of $5.7 billion, reflecting a growth of 0.5% [5]. - The company experienced a decline of 117,000 Internet customers, with approximately 50,000 disconnects attributed to the end of the ACP [5]. - Following the financial results announcement, Charter Communications' stock price fell by more than 18% [5]. Group 3: Legal Process - Investors who suffered substantial losses can seek to serve as lead plaintiff in the class action lawsuit, with motions due by October 14, 2025 [2][6]. - The lead plaintiff will represent the interests of all class members and can choose a law firm to litigate the case [6]. Group 4: Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [7]. - The firm has a strong track record in obtaining significant recoveries in securities class action cases, including the largest recovery in history of $7.2 billion in the Enron case [7].