NEW YORK, May 04, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of AST SpaceMobile, Inc. (NASDAQ:ASTS), Rivian Automotive, Inc. (NASDAQ:RIVN), Compass Minerals International, Inc. (NYSE:CMP), and Malibu Boats, Inc. (NASDAQ:MBUU). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
AST SpaceMobile, Inc. (NASDAQ:ASTS)
Class Period: November 14, 2023 - April 1, 2024
Lead Plaintiff Deadline: June 17, 2024
On April 1, 2024, after the market closed, 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, later than the previously expected launch in the first quarter of 2024.
On this news, SpaceMobile's stock price fell $0.62, or 23.6%, to close at $2.01 per share on April 2, 2024, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants 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 a result, the Company had not substantially completed the production of the Block 1 BlueBird satellites; (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; and (4) 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.
For more information on the SpaceMobile class action go to: https://bespc.com/cases/ASTS
Rivian Automotive, Inc. (NASDAQ:RIVN)
Class Period: March 1, 2023 - February 21, 2024
Lead Plaintiff Deadline: June 18, 2024
Rivian, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The Company sells its products directly to customers in the consumer and commercial markets.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Rivian had overstated demand ...