NEW YORK, NY - 
(NewMediaWire) - May 10, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of purchasers or acquirers of AST SpaceMobile, Inc. (“SpaceMobile” or the “Company”) (NASDAQ: ASTS) securities between November 14, 2023 and April 1, 2024 (the “Class Period”). Click Here to Join Investigation.
Deadline Reminder: If you are a member of the proposed Class, you may move the court no later than June 17, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
On November 14, 2023, the start of the Class Period, SpaceMobile provided a business update in a press release for the third quarter of 2023, which stated “[t]he manufacturing of our first five commercial satellites is at full speed at our Texas facilities, and we are looking forward to our expected launch in Q1 2024 as we target initial commercial service for both mobile network operators and governmental entities starting in 2024….”
Then, 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." According to the complaint, as a result of these production impacts, the five satellites were expected to be transported to the launch site between July or August 2024, later than the previously expected launch in the first quarter of 2024.
Following this news, SpaceMobile's stock price fell $0.62 per share, or 23.6%, to close at $2.01 per share on April 2, 2024.
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