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INVESTIGATION NOTICE: Robbins Geller Rudman & Dowd LLP Launches Investigation into EchoStar Corporation (SATS) and Encourages Investors with Substantial Losses or Witnesses with Relevant Information to Contact Law Firm
GlobeNewswire News Roomยท 2025-06-06 20:30
Company Overview - EchoStar Corporation, along with its subsidiaries, provides networking technologies and services [3] Recent Developments - On May 12, 2025, The Wall Street Journal reported that the Federal Communications Commission (FCC) would investigate EchoStar's compliance with federal requirements for building a nationwide 5G network, leading to a stock price drop of over 16% [4] - On May 30, 2025, EchoStar announced it would not make a cash interest payment of approximately $326 million to allow time for the FCC to provide requested relief, resulting in an additional 12% decline in stock price [5] - On June 2, 2025, EchoStar disclosed it would similarly not make approximately $183 million in cash interest payments due to uncertainty from the FCC review, causing a further stock price drop of more than 11% [6] Legal Investigation - Robbins Geller Rudman & Dowd LLP is investigating potential violations of U.S. federal securities laws involving EchoStar, focusing on whether the company and its executives made false or misleading statements or failed to disclose material information to investors [1]