On November 9, 2023, Cerberus Capital Management announced that it is the second-largest shareholder with a 10% stake in Frontier Communications and stated that its intention is to seek change or influence control at the Company. Cerberus added that in a filling with Securities and Exchange Commission (SEC) on November 6,2023, it has stated that Cerberus Capital Management and its representatives have engaged in, and may in the future engage in, discussions with members of the Company's Board and members of the Company's management team regarding constructive ways to enhance and maximize value for all stockholders.