Charter Communications (CHTR - Free Report) will be paying a record $174.2 million as part of a settlement deal with New York Attorney General Barbara Underwood for delivering lower- than-promised Internet speed to customers.
Notably, Charter is the first Internet service provider in the United States to pay the largest ever settlement amount to consumers.
The state’s largest Internet service provider, Spectrum — re-branded after Charter acquired Time Warner Cable in 2016 — failed to provide the promised Internet speed. Underwood has asked Charter to update its marketing practices to be in tandem with the service provided.
As part of the settlement, the company will be paying $62.5 million directly to customers. More than 700,000 active subscribers in the city will receive $75 to $150 each based on their plans. Additionally, Charter agreed to provide $110 million worth of free streaming services and premium channels to about 2.2 million active customers.
Charter Communications, Inc. Revenue (TTM)
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Charter Communications (CHTR - Free Report) will be paying a record $174.2 million as part of a settlement deal with New York Attorney General Barbara Underwood for delivering lower- than-promised Internet speed to customers.
Notably, Charter is the first Internet service provider in the United States to pay the largest ever settlement amount to consumers.
The state’s largest Internet service provider, Spectrum — re-branded after Charter acquired Time Warner Cable in 2016 — failed to provide the promised Internet speed. Underwood has asked Charter to update its marketing practices to be in tandem with the service provided.
As part of the settlement, the company will be paying $62.5 million directly to customers. More than 700,000 active subscribers in the city will receive $75 to $150 each based on their plans. Additionally, Charter agreed to provide $110 million worth of free streaming services and premium channels to about 2.2 million active customers.
Charter Communications, Inc. Revenue (TTM)
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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