An investor in Charter Communications, Inc. (Public, NASDAQ:CHTRQ) has filed a proposed securities class action lawsuit in the United States District Court for the Eastern District of Arkansas on behalf of purchasers of Charter securities between October 23, 2006, and February 12, 2009 against Charter Communications and others over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges that Charter Communications and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between October 23, 2006, and February 12, 2009 materially false and misleading statements regarding Charter’s ability to service its debt, its potential for mergers, and the value of its stock. Among other things, so the lawsuit, the defendants issued misleading statements about Charter’s potential for mergers. As a result of defendants’ false and misleading statements, Charter’s securities traded at artificially inflated prices during the Class Period, reaching a high of $ 4.800 on July 19, 2007, so the lawsuit.

Charter Communications, Inc., located in St. Louis, MO, operates broadband communications businesses in the United States, with approximately 5.5 million customers during the year ended December 31, 2008. Charter Communications, Inc reported $6.002billion in total revenue with a net change in cash of $15million in 2007 and $6.479billion in tital revenue with a net change in cash of $885million in 2008. Shares of Charter Communications (NASDAQ:CHTRQ) traded as low as $0.0257 per share recently, down from a 52weekHigh of $1.67 per share.