Charter Communications, Inc.

On July 25, 2025, Charter released its second quarter 2025 financial results, reporting that total internet customers had declined by 117,000, compared to about 100,000 in the second quarter of 2024, when adjusted to remove the prior year’s impact of Affordable Connectivity Program ("ACP") related disconnected. The Company’s total video customers also decreased by 80,000.

On this news, Charter’s stock price fell $70.25, or 18.5%, to close at $309.75 per share on July 25, 2025, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the impact of the ACP end was a material event the Company was unable to manage or promptly move beyond; (2) the ACP end was actually having a sustaining impact on Internet customer declines and revenue; (3) neither was the Company executing broader operations in a way that would compensate for, or overcome the impact, of the ACP ending; (4) the Internet customer declines and broader failure of Charter’s execution strategy created much greater risks on business plans and earnings growth than reported; (5) accordingly, the Company had no reasonable basis to state the Company was successfully executing operations, managing causes of Internet customer declines, or provide overly optimistic statements about the long term trajectory of the Company and EBITDA growth; and (6) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.