Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Charter Communications, Inc. (NasdaqGS: CHTR).
On February 1, 2017, the New York Attorney General filed suit against Charter and its subsidiary Spectrum Management Holdings, LLC (formerly Time Warner Cable, Inc., which was acquired by Charter in May 2016), for fraudulently misleading consumers by promising internet service that they knew they could not deliver. Charter’s attempt to dismiss the suit was denied and the case remains ongoing.
Then, on July 27, 2018, the New York State Public Service Commission announced it had revoked approval of the Company’s 2016 merger and its permission to operate in the state because it failed to honor an agreement that was part of the merger to build out internet access to rural areas of New York, stating that Charter “had multiple opportunities to correct these issues and either has not done so or has been openly brazen in its efforts to avoid them.” Further, the commission is seeking $3 million in penalties and has given the Company two months to find a replacement provider for its cable operations.
KSF’s investigation is focusing on whether Charter’s officers and/or directors breached their fiduciary duties to Charter’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-time holder of Charter shares, and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com), or click here.