Skip to main content

InvestorsAugust 1, 2002

Charter Responds to Class Action Lawsuit

Share Article:

ST. LOUIS, Aug 1, 2002 (BUSINESS WIRE) -- Charter Communications, Inc. (Nasdaq:CHTR) today issued the following statement in response to a class action lawsuit filed in the United States District Court for the Central District of California on July 31, 2002, alleging that Charter had utilized misleading accounting practices that had the effect of misrepresenting its results of operations.

The following statement should be attributed to David Andersen, Charter Senior Vice President of Communications:

"Our financial statements comply with generally accepted accounting principles, in all material respects, and they, and the related SEC filings, provide an accurate picture of the Company, its financial condition, results of operations, and the assumptions underlying them. KPMG was retained as our new outside independent auditors on April 22, 2002. They have issued a review report that will be included with our second quarter 10-Q filing with the SEC. In this report, KPMG has indicated that they are not aware of any material modifications that should be made to the financial statements they have reviewed in order for our financial statements to be in conformity with generally accepted accounting principles.

"We intend to vigorously defend ourselves against this action, and believe that our financial reports and disclosures will be validated."

    About Charter Communications
Charter Communications, A Wired World Company(TM), is among the nation's largest broadband communications companies, currently serving more than 6.8 million customers in 40 states. Charter provides a full range of advanced broadband services to the home, including cable television on an advanced digital video programming platform marketed under the Charter Digital Cable(R) brand and high-speed Internet access via Charter Pipeline(R). Commercial high-speed data, video and Internet solutions are provided under the Charter Business Networks(TM) brand. Advertising sales and production services are sold under the Charter Media brand.

A Fortune 500 and Nasdaq 100 Company, Charter was the 2001 recipient of the Outstanding Corporate Growth Award from the Association for Corporate Growth, the 2001 R.E. "Ted" Turner Innovator of the Year Award from the Southern Cable Telecommunications Association, and the 2001 Fast 50 Award for Growth from the St. Louis Regional Chamber and Growth Association. More information about Charter can be found at

CONTACT:          Charter Communications Inc., St. Louis
                  David Andersen, 314/543-2213

Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2002 Business Wire.  All rights reserved.