ASTS Investors Have Opportunity to Lead AST SpaceMobile, Inc. Securities Fraud Lawsuit with the Schall Law Firm

Business Wire 14-Jun-2024 10:30 AM

The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against AST SpaceMobile, Inc. ("AST SpaceMobile" or "the Company") (NASDAQ:ASTS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between November 14, 2023 and April 1, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before June 17, 2024.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. AST SpaceMobile's production of satellites was negatively impacted by delays related to suppliers of critical subsystems. The Company failed to substantially complete the production of its five satellites and was not on track for a first quarter 2024 launch. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about AST SpaceMobile, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

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