NEW YORK, Oct. 25, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Viasat, Inc. (“Viasat” or the “Company”) (NASDAQ: VSAT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Viasat and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 12, 2023, Viasat disclosed that its recently launched Viasat-3 Americas satellite had suffered a malfunction while deploying a reflector.
On this news, Viasat’s stock price fell $12.24 per share, or 28.48%, to close at $30.74 per share July 13, 2023.
Then, on August 24, 2023, Viasat issued a press release “confirm[ing] that its Inmarsat-6 F2 (I6 F2) satellite, which was launched on February 18, 2023, has suffered a power subsystem anomaly during its orbit raising phase. At this stage, Viasat and Airbus, the satellite’s manufacturer, are working to determine the root cause of the anomaly and assess whether the satellite will be able to perform its mission.”
On this news, Viasat’s stock price fell $1.34 per share, or 4.99%, to close at $25.54 per share on August 25, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
