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Submit Your Information for the AST SpaceMobile Lawsuit

Lead plaintiff deadline is June 17, 2024.

If you purchased or acquired AST SpaceMobile securities between November 14, 2023 and April 1, 2024, please contact Berger Montague using the form below.

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About the Lawsuit

AST SpaceMobile purports to be in the advanced stages of assembling and testing its first generation of commercial BlueBird satellites, the “Block 1 BlueBird” satellites. Following the planned launch and deployment of five Block 1 BlueBird satellites, the Company intends to initiate limited, noncontinuous cellular service in targeted geographical areas, including in the United States, in order to generate revenue.

According to the complaint, throughout the Class Period, the defendants failed to disclose to investors that production of the five Block 1 BlueBird satellites had been negatively impacted by two suppliers of key subsystems, and as a result, the satellites were not on track to launch in the first quarter of 2024.

On April 1, 2024, after the market closed, AST 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 and August 2024, materially later than the previously expected launch in the first quarter of 2024.

On this news, AST SpaceMobile’s stock price fell $0.62, or 23.6%, from a closing price of $2.63 per share on April 1, 2024, to close at $2.01 per share on April 2, 2024.

Investors who purchased or acquired AST SpaceMobile securities between November 14, 2023 and April 1, 2024, may no later than June 17, 2024, seek to be appointed as a lead plaintiff representative of the class.