AST SpaceMobile Inc. and two of its top executives concealed information about delays in completing and launching the cellular broadband company’s first five satellites due to problems with component suppliers, an investor alleges in a proposed class action.
SpaceMobile’s stock price sank 24% on April 2, after the company issued a press release describing the problem, shareholder Zach Klarkowski says in his complaint, filed Wednesday in the US District Court for the Western District of Texas.
The expected launch in the first quarter of 2024 will be delayed to July or August, which will also delay revenue, Klarkowski says.
The ...
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