Investors who lost money with shares of AST SpaceMobile, Inc. (NASDAQ: ASTS) should contact the Shareholders Foundation in connection with pending lawsuit

An investor, who purchased shares of AST SpaceMobile, Inc. (NASDAQ: ASTS), filed a lawsuit over alleged violations of Federal Securities Laws by AST SpaceMobile, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of AST SpaceMobile, Inc. (NASDAQ: ASTS) have certain options and for certain investors are short and strict deadlines running. Deadline: June 17, 2024. NASDAQ: ASTS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Midland, TX based AST SpaceMobile, Inc., together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States.

On April 1, 2024, AST SpaceMobile, Inc 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, later than the previously expected launch in the first quarter of 2024.

Shares of AST SpaceMobile, Inc. (NASDAQ: ASTS) declined from over $7 per share in June 2023 to as low as $1.97 per share on April 02, 2024.

The plaintiff claims that between November 14, 2023 and April 1, 2024, the Defendants failed to disclose to investors that production of the Company's five Block 1 BlueBird satellites had been negatively impacted by two suppliers of key subsystems, that a result, the Company had not substantially completed the production of the Block 1 BlueBird satellites, that, as a result, the Company's five Block 1 BlueBird satellites were not on track to launch in the first quarter of 2024, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of AST SpaceMobile, Inc. (NASDAQ: ASTS) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.