Apparently Comcast’s raging popularity with the online community as of late over blocking P2P traffic has resulted with much lower share prices. The stockholders have started suffering, and Comcast has some serious allegations to answer.
In a recent response to one of its largest shareholders, Chieftan Capital Management, Comcast said it, “continues to perform well, consistently delivering superior revenue and cash-flow growth and significant free cash flow despite a challenging economy and increasingly competitive environment,” according to Broadcasting and Cable.
When Comcast refers to consistency, it must be referring to the large constituency of customers who don’t have any other viable high-speed options, and that increasingly competitive environment must be code for providers who don’t purposefully suspend the functionality of their service and cover up their sly maneuvers to boot.
With shares closing at a dangerously low $17.30, other shareholders have filed class-action lawsuits alleging Comcast has purposefully been secretive about its actions, withholding critical information from investors.
Whether or not the class action lawsuits and lower stock prices will result in a better product for consumers is yet to be seen; though Christmas is over, is it too late to ask Santa for a Comcast that is either cheaper, or more reliable and not restricted? Most likely.