Maxar Technologies Leaders Sued in Delaware Over Huge Stock Drop

A Maxar Technologies Inc. investor sued its senior leaders in Delaware, claiming they artificially inflated the company’s stock by hiding existential threats to its geosynchronous satellite business, sticking shareholders with heavy losses when its market value fell more than 80%.

The 131-page derivative lawsuit, made public Tuesday, accuses Maxar’s board and executives of concealing and downplaying trends threatening its DigitalGlobe unit—such as the industry’s transition from high-orbit to low-orbit conventions—and a “mission critical” failure by its WorldView-4 satellite.

Those changes rippled across Maxar’s business, reducing the number of projects available to bid on and leaving the company bogged down by ...