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Investors Amend Accounting Fraud Suit against St. Louis-Based Cable Provider.
Byline: Jerri Stroud
Jun. 27--Investors in Charter Communications Inc. have filed new documents in a lawsuit that details a "pervasive fraudulent scheme" by the company and its executives to inflate revenue, cash flow and subscriber lists to prop up share prices and financial results.
Investors led by StoneRidge Investment Partners LLC of Malvern, Pa., filed the amendment June 12 in federal court here.
Charter spokesman David Andersen said the cable company would defend the suit, but he declined to comment on specific allegations. Spokesmen for Chairman Paul G. Allen declined to comment to Bloomberg News and had not responded to Post-Dispatch …
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