NEW ORLEANS--(BUSINESS WIRE)--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 extended its 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 speeds that they knew they could not deliver.
Then, on July 27, 2018, the New York State Public Service Commission announced it had revoked approval of the Company’s 2016 merger and permission to operate in the state because it failed to honor an agreement included in the merger to build internet access to rural areas, 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,” essentially kicking the Company out of the state, and seeking $3 million in penalties.
Recently, the Company agreed to pay a $174.2 million to resolve the charges by the NY AG’s office; however, its legal dispute with the NY PSC remains ongoing.
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 (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-chtr/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.