Water Leak in Basement wall where Verizon FiOS line enters house

[rlusby49]

This past week's rainstorms in Maryland exposed a leak in our basement wall.  The water is intruding through the hole where the Verizon line comes into the house.  I'd estimate the hole is about 3 to 4 feet below grade.  We just moved into this house 2 years ago and the Verizon installation occurred with the former owner.  First off I'm wondering why they would install the line below grade as this seems to be an obvious weak spot where water could penetrate the wall.  Second does Verizon bear any responsibility for repairing this leak?