Charter Settles Suit Brought by Shareholders
St. Louis, MO – St. Louis-based Charter Cable agreed yesterday to pay $144 million to settle lawsuits over accusations of inflating financial results and customer numbers.
Shareholders brought the suit.
Charter's CEO Carl Vogel says the settlement closes the books on the company's legal problems. "We can now devote our complete and full attention to serving customers and growing revenues," he said in a statement.
The government recently ended its investigation into the same accounting issues.
Four former executives were indicted last year on charges of scheming to defraud investors by inflating numbers.