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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of EchoStar Corporation - SATS
GlobeNewswire News Room· 2025-06-28 14:00
Core Viewpoint - EchoStar Corporation is under investigation for potential securities fraud and unlawful business practices, which has led to significant stock price declines following various negative news reports and financial disclosures [1][3][4][5]. Group 1: Investigation and Legal Concerns - Pomerantz LLP is investigating claims on behalf of EchoStar investors regarding possible securities fraud or unlawful business practices by the company and its officers [1]. - The investigation follows a series of events that have raised concerns about EchoStar's compliance with federal requirements and its financial stability [3][4][5]. Group 2: Stock Price Impact - Following a Wall Street Journal article on May 12, 2025, regarding FCC investigations into EchoStar's compliance, the company's stock fell by $4.01, or 16.58%, closing at $20.18 [3]. - On May 30, 2025, EchoStar announced it would not make a $326 million interest payment on its senior spectrum secured notes, resulting in a stock price drop of $2.44, or 12.1%, to $17.73 [4]. - A report on June 6, 2025, indicated that EchoStar was considering a Chapter 11 bankruptcy filing, leading to a further decline in stock price by $1.49, or 8.52%, closing at $15.99 [5].