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The lawsuit, which named as defendants Liberty Broadband, Charter and the board of directors of Charter, alleged that the transactions resulted from breaches of fiduciary duty by Charter’s directors and that Liberty Broadband improperly benefited from the challenged transactions at the expense of other Charter stockholders.
−Removed: Charter and Liberty Broadband deny any liability, believe that they have substantial defenses, and are vigorously defending this lawsuit.
−Removed: Although Charter is unable to predict the outcome of this lawsuit, it does not expect the outcome will have a material effect on its operations, financial condition or cash flows.
+Added: In January 2023, and in advance of the expenditure of significant time and costs, the parties reached a tentative agreement to settle the lawsuit.
+Added: The settlement is subject to preliminary and final approval by the court and will result in a net payment to Charter as a result of the settlement of the derivative claims by the plaintiffs.
+Added: Liberty Broadband expects to pay approximately $38 million to Charter as a result of the tentative settlement, which has been accrued as a current liability in the consolidated balance sheet and recorded as a litigation settlement expense within operating income in the consolidated statements of operations.
+Added: There can be no assurance that this tentative settlement will be finalized and approved by the court.
+Added: Pending finalization of the settlement and in the event the settlement is not finalized and approved by the court, Charter and Liberty Broadband will continue to vigorously defend this lawsuit.
Other Charter Proceedings
4 unchanged sentences
While Charter is unable to predict the outcome of these investigations, it does not expect that the outcome will have a material effect on its operations, financial condition, or cash flows.
−Removed: Sprint Communications Company L.P.
−Removed: (“Sprint”) filed a patent suit against Charter and Bright House on December 2, 2017 in the United States District Court for the District of Delaware.
−Removed: This suit alleges infringement of 9 patents related to Charter’s provision of VoIP services.
−Removed: Sprint previously sued TWC with respect to eight of these patents and obtained a final judgment of $151 million inclusive of interest and costs, which Charter paid in November 2019.
−Removed: Charter has also brought a patent suit against Sprint (TC Tech, LLC v.
−Removed: Sprint) in the United States District Court for the District of Delaware implicating Sprint's LTE technology and a similar suit against T-Mobile in the United States District Court for the Western District of Texas.
−Removed: Sprint filed a subsequent patent suit against Charter on May 17, 2018 in the United States District Court for the Eastern District of Virginia.
−Removed: This suit alleges infringement of two patents related to Charter's video on demand services.
−Removed: The court transferred this case to the United States District Court for the District of Delaware on December 20, 2018 pursuant to an agreement between the parties.
−Removed: On February 18, 2020, Sprint filed a lawsuit against Charter, Bright House and TWC.
−Removed: Sprint alleges that Charter misappropriated trade secrets from Sprint years ago through employees hired by Bright House.
−Removed: Sprint asserts that the alleged trade secrets relate to the VoIP business of Charter, TWC and Bright House.
−Removed: The case is now pending in the United States District Court for the District of Kansas.
−Removed: Charter, T-Mobile and Sprint have tentatively reached a settlement of all of the foregoing suits that would result in a payment of $220 million by Charter to T-Mobile.
−Removed: Charter can give no assurance that this tentative settlement will be finalized.
−Removed: Pending finalization of the settlement and in the event the settlement is not finalized, Charter will vigorously defend these Sprint suits and prosecute the suits it has brought against T-Mobile and Sprint.
−Removed: While Charter is unable to predict the outcome of these lawsuits, it does not expect that the litigation will have a material effect on its operations, financial condition, or cash flows.
−Removed: In addition to the Sprint litigation described above, Charter is a defendant or co-defendant in several additional lawsuits involving alleged infringement of various intellectual property relating to various aspects of its businesses.
+Added: In March 2020, Charter Communications, LLC (“CC, LLC”), an indirect subsidiary of Charter, was named as a defendant in a lawsuit filed in Dallas, Texas related to the fatal stabbing of an individual in her home by an off duty CC, LLC technician:
+Added: William Goff, as Personal Representative of Betty Jo McClain Thomas, deceased, et al.
+Added: Roy James Holden, Jr.
+Added: and Charter Communications, LLC, Case No.
+Added: CC-20-01579-E, pending in County Court at Law No.
+Added: 5 for Dallas County, Texas.
+Added: The complaint alleged that CC, LLC was responsible for Mrs.
+Added: Thomas’ death.
+Added: Following a two phase trial, the jury returned a verdict finding CC, LLC ninety percent at fault for Mrs.
+Added: Thomas’ death, and awarded compensatory damages of $375 million to plaintiffs
+Added: and then awarded $7.0 billion in punitive damages to plaintiffs on July 26, 2022.
+Added: On October 7, 2022, plaintiffs filed a motion for a judgment that proposed a reduced total award of $1.1 billion.
+Added: The trial judge signed the judgment, and CC, LLC posted a $25 million bond to stay the judgment pending appeals.
+Added: On January 11, 2023, and after issuing a series of decreasing settlement demands over several months, the plaintiffs issued a new, lower settlement demand to CC, LLC and its insurers, and then on January 18, 2023, plaintiffs also filed a notice of remittitur with the court to further reduce the judgment to $262 million, comprised of $87 million in actual damages, and $175 million in punitive damages.
+Added: On January 24, 2023 and upon the insistence and demand of its insurers, CC, LLC reached a tentative settlement of this lawsuit at an amount substantially less than the reduced judgment and within CC, LLC’s insurance coverage.
+Added: In the event the settlement is not ultimately finalized, CC, LLC will continue to vigorously defend this lawsuit including pursuing all available appeals.
+Added: Charter is a defendant or co-defendant in several lawsuits involving alleged infringement of various intellectual property relating to various aspects of its businesses.
Other industry participants are also defendants in certain of these cases or related cases.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.