AST SpaceMobile, Inc.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Western District of Texas on behalf of those who acquired AST SpaceMobile, Inc. (“AST” or the “Company”) (NASDAQ: ASTS) securities during the period of November 14, 2023 through April 1, 2024, inclusive (“the Class Period”). Investors have until June 17, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that throughout the Class Period, AST failed to disclose to investors: (1) that production of the Company's five Block 1 BlueBird satellites had been negatively impacted by two suppliers of key subsystems; (2) that the Company had not substantially completed the production of the Block 1 BlueBird satellites; and (3) that, as a result, the Company's five Block 1 BlueBird satellites were not on track to launch in the first quarter of 2024.
The lawsuit alleges that throughout the Class Period, AST failed to disclose to investors: (1) that production of the Company's five Block 1 BlueBird satellites had been negatively impacted by two suppliers of key subsystems; (2) that the Company had not substantially completed the production of the Block 1 BlueBird satellites; and (3) that, as a result, the Company's five Block 1 BlueBird satellites were not on track to launch in the first quarter of 2024.