Summary
Charter Communications, Inc. (CHTR) has filed an 8-K report on March 31, 2009, detailing significant corporate events. The most critical piece of information for investors is the notification from NASDAQ that the company's Class A common stock will be delisted and trading suspended effective April 7, 2009. This action follows Charter's earlier announcement of filing for Chapter 11 bankruptcy protection for itself and its subsidiaries. The company has stated it does not intend to appeal NASDAQ's decision, signaling a serious financial distress. Additionally, the filing mentions that all first-day motions have been approved by the United States Bankruptcy Court for the Southern District of New York, which is a procedural step in the bankruptcy process. Information regarding a previously non-public presentation with financial and statistical data has also been made available on the company's website.
Key Highlights
- 1Charter Communications will be delisted from NASDAQ, with trading suspended starting April 7, 2009.
- 2The delisting is a direct consequence of the company filing for Chapter 11 bankruptcy protection.
- 3Charter Communications does not plan to appeal the NASDAQ delisting decision.
- 4The company has received approval for its first-day motions from the U.S. Bankruptcy Court.
- 5Certain financial and statistical information is available on Charter's investor relations website.