SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against AST SpaceMobile, Inc. - ASTS

PRNewswire 15-Jun-2024 10:45 AM

NEW YORK, June 15, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against AST SpaceMobile, Inc. ("AST" or the "Company") (NASDAQ:ASTS). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether AST and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 17, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired AST securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action]

On April 1, 2024, after the market closed, SpaceMobile issued a press release disclosing that production of five Block 1 BlueBird satellites had been "impacted by two suppliers, leading to delays in integration and testing." As a result, these five satellites were expected to be transported to the launch site between July or August 2024, later than the previously expected launch in the first quarter of 2024.

On this news, SpaceMobile's stock price fell $0.62 per share, or 23.6%, to close at $2.01 per share on April 2, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980

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SOURCE Pomerantz LLP