Contact AST SpaceMobile stock loss lawyer Timothy L. Miles today about an AST SpaceMobile class action lawsuit
Understanding the AST SpaceMobile Class Action Lawsuit![]()
The AST SpaceMobile class action lawsuit, captioned Klarkowski v. AST SpaceMobile, Inc., No. 24-cv-00102 (W.D. Tex.), alleges violations of the Securities Exchange Act of 1934 by AST SpaceMobile, Inc. (NASDAQ: ASTS; ASTSW) and certain top executives. The lawsuit seeks to represent investors who acquired AST SpaceMobile publicly traded securities between November 14, 2023, and April 1, 2024, inclusive (the "Class Period").
If you suffered financial losses due to investing in AST SpaceMobile stock during this timeframe, you may be eligible to participate in the class action lawsuit. This comprehensive guide will provide you with a detailed understanding of the case, including the allegations, the lead plaintiff process, the stages of the litigation, and the potential benefits of serving as a lead plaintiff. The Allegations: Misleading Statements and Delays
The crux of the AST SpaceMobile class action lawsuit revolves around two primary allegations:
1. False and Misleading Statements According to the lawsuit, the defendants made false and/or misleading statements and failed to disclose material facts throughout the Class Period. Specifically, it is alleged that:
On April 1, 2024, AST SpaceMobile disclosed that the production of its five Block 1 BlueBird satellites had been "impacted by two suppliers, leading to delays in integration and testing." This revelation meant that the transportation of the satellites to the launch site would be delayed from the first quarter of 2024 to between July or August 2024. The AST SpaceMobile class action lawsuit alleges that this disclosure caused the company's stock price to plummet nearly 24%, resulting in significant losses for investors. The Lead Plaintiff Deadline![]()
When a securities class action is filed, the first plaintiff is required to publish a notice announcing the filing. Any investor who wishes to serve as the lead plaintiff on behalf of the class must file a motion to be appointed as the lead plaintiff within 60 days after the notice was published.
For the AST SpaceMobile class action lawsuit, lead plaintiff motions must be filed with the court no later than June 17, 2024. The Stages of the AST SpaceMobile Class Action Lawsuit
The Lead Plaintiff Process![]()
The Private Securities Litigation Reform Act of 1995 (PSLRA) allows any investor who purchased AST SpaceMobile securities during the Class Period and suffered losses to seek appointment as lead plaintiff in the class action lawsuit. The lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
As the lead plaintiff, you would act on behalf of all other class members in directing the litigation. You would have the ability to select a law firm of your choice to represent the class and would be involved in key decisions, such as settlement negotiations and mediation. It's important to note that your ability to share in any potential future recovery from the class action lawsuit is not dependent upon serving as lead plaintiff. Benefits of Serving as the Lead Plaintiff
While serving as the lead plaintiff in a securities class action lawsuit involves certain responsibilities, there are several potential benefits:
Responsibilities of the Lead Plaintiff
While serving as the lead plaintiff offers several advantages, it also comes with certain responsibilities:
Frequently Asked QuestionsCan a non-us investor serve as a lead plaintiff in the AST Spacemobile class action lawsuit?
Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in AST SpaceMobile stock, they may move the Court to be appointed lead plaintiff in the class action against AST SpaceMobile.
Can I serve as a lead plaintiff in the class action against AST SpaceMobile if I purchases shares outside of the class period?
No. Even if you suffered losses in AST SpaceMobile stock, if you purchased securities outside of the Class period, you will not be able to participate in the AST SpaceMobile lawsuit.
Can I serve as a lead plaintiff in the class action against AST SpaceMobile if I am serving as lead plaintiff in another securities fraud case?
Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in AST SpaceMobile stock, you may move to be appointed lead plaintiff.
Can the court appoint more than one lead plaintiff in the AST SpaceMobile lawsuit?
Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs in the AST SpaceMobile class action lawsuit.
Can I serve as lead plaintiff in the AST SpaceMobile class action lawsuit if I sold my shares?
Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the AST SpaceMobile lawsuit.
How do I know if I am a member of the class in the class action against AST SpaceMobile?
If you purchased shares during the class period and suffered losses in AST SpaceMobile stock, then you are most likely a member of the class in the AST SpaceMobile lawsuit and may participate in the AST SpaceMobile lawsuit since you suffered losses in AST SpaceMobile stock.
If I am a member of the class, how much does it cost to hire an AST SpaceMobile stock loss lawyer?
If you suffered losses in AST SpaceMobile stock and are a member of the class, it does not cost anything to hire an AST SpaceMobile stock loss lawyer. Our firm litigates securities fraud cases on a contingent fee basis, so plaintiffs and the class do not pay attorneys’ fees or court costs unless there is a recovery, and the attorney fees and costs are awarded by the court as a percentage of the total recovery for the class.
CONTACT AN AST SPACEMOBILE STOCK LOSS LAWYER TODAY ABOUT AN AST SPACEMOBILE CLASS ACTIONN LAWSUIT
If you suffered losses in AST SpaceMobile stock, contact AST SpaceMobile stock loss lawyer Timothy L. Miles today for a free case evaluation about an AST SpaceMobile class action lawsuit. Call today and see what an AST SpaceMobile stock loss lawyer could do for you if you suffered losses in AST SpaceMobile stock. This will most likely be the only call you need to make. (855) 846–6529 or [email protected].
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846–6529 Email: [email protected] AST SpaceMobile stock loss lawyer Timothy L. MilesNashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime. Comments are closed.
|
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
July 2024
Categories
All
|
CONTACT
The Law Offices of Timothy L. Miles Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846-6529 Email: [email protected] HOURS OF OPERATION Mon-Fri: 24/7 Sat-Sun: 24/7 |