Block 1 BlueBird satellites

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SPACEMOBILE (ASTS) ALERT: Bragar Eagel & Squire, P.C. is Investigating AST SpaceMobile, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm
GlobeNewswire News Room· 2025-08-06 23:59
Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against AST SpaceMobile, Inc. (NASDAQ: ASTS) on behalf of long-term stockholders due to a class action complaint filed against the company, alleging breaches of fiduciary duties by the board of directors [2][5]. Group 1: Company Performance and Issues - On April 1, 2024, SpaceMobile announced that the production of five Block 1 BlueBird satellites was delayed due to issues with two suppliers, pushing the expected launch from the first quarter of 2024 to between July and August 2024 [3]. - Following this announcement, SpaceMobile's stock price dropped by $0.62, or 23.6%, closing at $2.01 per share on April 2, 2024, with unusually high trading volume [4]. Group 2: Legal Actions and Allegations - The class action complaint alleges that during the class period from November 14, 2023, to April 1, 2024, SpaceMobile's executives made materially false and misleading statements regarding the company's business and operations, failing to disclose significant production issues with the Block 1 BlueBird satellites [5]. - The complaint specifically states that the defendants did not inform investors about the negative impact on production from suppliers, the incomplete status of the satellites, and the resulting delay in the launch schedule, which rendered previous positive statements misleading [5].