According to the complaint, defendants made false and/or misleading statements and/or failed to disclose that:
- the impact of the Federal Communications Commission’s (“FCC”) Affordable Connectivity Program (“ACP”) end was a material event Charter Communication was unable to manage or promptly move beyond;
- the ACP end was having a sustaining impact on Internet customer declines and revenue;
- neither was Charter Communication executing broader operations in a way that would compensate for, or overcome the impact, of the ACP ending;
- the Internet customer declines and broader failure of Charter Communication’s execution strategy created much greater risks on business plans and earnings growth than reported;
- accordingly, Charter Communication had no reasonable basis to state Charter Communication was successfully executing operations, managing causes of Internet customer declines, or provide overly optimistic statements about the long term trajectory of Charter Communication and EBITDA growth; and
- as a result of the foregoing, defendants materially misled with, and/or lacked a reasonable basis for, their positive statements about Charter Communication’s business, operations, outlook during the Class Period.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
