SecuritiesLitigation Partner James (Josh) Wilson Encourages Investors Who Suffered LossesExceeding $100,000 In Astra Space f/k/a Holicity To Contact Him Directly ToDiscuss Their Options
NEW YORK - (NewMediaWire) - February 9, 2022 - Faruqi & Faruqi, LLP, aleading national securities law firm, is investigating potential claims againstAstra Space Inc. f/k/a Holicity, Inc. (“Astra Space” or the “Company”) (NASDAQ:ASTR, HOL) and reminds investors of the April 11, 2022 deadline to seek therole of lead plaintiff in a federal securities class action that has been filedagainst the Company.
Ifyou suffered losses exceeding $100,000 investing in Astra Space f/k/a Holicity stockor options between February 2, 2021 and December 29, 2021 and would like todiscuss your legal rights, call Faruqi& Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additionalinformation: www.faruqilaw.com/ASTR.
Thereis no cost or obligation to you.
As detailed below, the lawsuitfocuses on whether the Company and its executives violated federal securitieslaws by making false and/or misleading statements and/or failing to disclosethat: (1) Astra cannot launch “anywhere”; (2) Astrasignificantly overstated its addressable market; (3) Astra overstated theeffectiveness of its designs and reliability; (4) Astra significantlyoverstated its plans for diversification and its broadband constellation plan;and (5) as a result, defendants’ public statements were materially false and/ormisleading at all relevant times. When the true details entered the market, thelawsuit claims that investors suffered damages.
On December 29, 2021, marketresearcher Kerrisdale Capital released a report entitled “Astra Space, Inc(ASTR): Headed for Dis-Astra” (the “Report”) which alleged a myriad of issueswith the Company. As detailed in the complaint, the Report detailed concernsabout the Company’s: (i) “claims that it can launch anywhere”; (ii)“reliability and quality issues”; and (iii) “plans for diversification and itsbroadband constellation plan.” Following that Report, shares of the Company’sstock fell $1.10 per share, or approximately 14% in value, to close at $6.61per share on December 29, 2021, on unusually heavy trading volume.
The court-appointed leadplaintiff is the investor with the largest financial interest in the reliefsought by the class who is adequate and typical of class members who directsand oversees the litigation on behalf of the putative class. Any member of theputative class may move the Court to serve as lead plaintiff through counsel oftheir choice, or may choose to do nothing and remain an absent class member. Yourability to share in any recovery is not affected by the decision to serve as alead plaintiff or not.
Faruqi & Faruqi, LLP alsoencourages anyone with information regarding Astra Space’s conduct to contactthe firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The lawfirm responsible for this advertisement is Faruqi & Faruqi, LLP(www.faruqilaw.com). Prior results do not guarantee or predict a similaroutcome with respect to any future matter. We welcome the opportunity todiscuss your particular case. All communications will be treated in aconfidential manner.
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Faruqi & Faruqi LLP