Sandoval v. Charter Communications, Inc. et al

Labaton Keller Sucharow serves as Co-Lead Counsel in a securities class action against Charter Communications, Inc. (Charter or the Company), Charter’s President and Chief Executive Officer, and Charter’s Chief Financial Officer (collectively, Defendants) on behalf of all persons and entities who purchased or otherwise acquired securities, purchased call options on Charter common stock, or sold put options on Charter common stock, between July 26, 2024, and July 24, 2025, inclusive (the Class Period).

Charter is a broadband connectivity company and cable operator that provides internet, video, mobile, and voice services to residential and commercial customers across the United States under the Spectrum brand.  The Company operates in 41 states with services available to more than 57 million homes and businesses.  Its core business is providing residential internet services.

The action alleges that Defendants misled investors about the Company’s ability to offset internet customer losses after the end of the Federal Communications Commission’s (FCC) pandemic-era Affordable Connectivity Program (ACP), which provided funding to Charter and similar providers, in exchange for subsidizing high-speed internet plans for low-income households.  Charter reported that approximately 5 million of its customers received ACP benefits.

Specifically, Defendants are accused of making false and/or misleading statements and/or failing to disclose that (i) the end of the ACP was a material event that the Company was unable to manage or promptly move beyond; (ii) the end of the ACP was having an ongoing, negative impact on internet customer trends and revenue; (iii) the Company was executing broader operations in a way that would neither compensate for nor overcome the impact of the ACP ending; (iv) the internet customer declines and broader failure of Charter’s execution strategy created much greater risks on business plans and earnings growth than reported; (v) accordingly, the Company had no reasonable basis to represent that Charter was successfully executing operations, managing internet customer declines, or achieving sustainable growth; and (iv) as a result of the foregoing, Defendants materially misled with, and/or lacked a reasonable basis for, their positive statements about the Company’s business, operations, and outlook during the Class Period.

On November 10, 2025, the Honorable Lewis J. Liman of the Southern District of New York appointed the State of Rhode Island Office of the General Treasurer, on behalf of the Employees’ Retirement System of the State of Rhode Island, as Lead Plaintiff and Labaton Keller Sucharow as Co-Lead Counsel.

The case is Sandoval v. Charter Communications, Inc. et al, No. 25-6747 (S.D.N.Y.).