Charter Communications CEO Chris Winfrey and CFO Jessica Fischer have been sued in a class action.
The core allegation: Charter allegedly misled investors about the financial impact of the end of the Affordable Connectivity Program.
The suit, filed Thursday by plaintiff Mark Sandoval in U.S. District Court in the Southern District of New York, alleged that the executives issued “materially false and misleading statements” that led investors to believe the company could quickly move past the loss of the federal subsidy. The ACP, which provided $30 monthly discounts for low-income households until funding ran out in May 2024, had supported about 5 million Charter customers.
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