The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Western District of Texas on behalf of shareholders of AST SpaceMobile, Inc. who purchased Securities between November 14, 2023 and April 1, 2024.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) that production of the Company’s five first generation of commercial satellites, Block 1 BlueBird satellites, had been negatively impacted by two suppliers of key subsystems; (2) a result, the Company had not substantially completed the production of the Block 1 BlueBird satellites; (3) as a result, the Company’s five Block 1 BlueBird satellites were not on track to launch in the first quarter of 2024; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until June 17, 2024 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
