The ACP continues to haunt Charter

Charter Communications continues to manage its way through broadband subscriber losses linked to the demise of the Affordable Connectivity Program in 2024. While the worst appears to be in Charter's rear-view mirror with respect to related subscriber losses, the end of the ACP likely will remain a thorn in Charter's side for months to come, thanks to a recently filed class action lawsuit. A shareholder named Mark Sandoval filed a class action complaint against Charter and two top execs—CEO Chris Winfrey and CFO Jessica Fischer—alleging that they made "false and/or misleading statements" about how the end of the program impacted Charter's business financial impact, and to what degree the demise of the ACP was a "material event" for the Stamford, Connecticut-based cable operator. The complaint was filed August 18 with the US District Court-Southern District of New York. The class action was filed on behalf of those who purchased or otherwise acquired Charter shares, or sold put options on Charter shares between July 26, 2024 and July 24, 2025. Save for summons documents filed on August 18 for Winfrey and Fischer, not much else has been filed in the docket.