Astra Space f/k/a Holicity Update
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Astra Space f/k/a Holicity To Contact Him Directly To Discuss Their Options
New York, New York--(Newsfile Corp. - April 11, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Astra Space Inc. f/k/a Holicity, Inc. ("Astra Space" or the "Company") (NASDAQ: ASTR) (NASDAQ: HOL) and reminds investors of the April 11, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in Astra Space f/k/a Holicity stock or options between February 2, 2021 and December 29, 2021 and would like to discuss 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 additional information: www.faruqilaw.com/ASTR
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Astra cannot launch "anywhere"; (2) Astra significantly overstated its addressable market; (3) Astra overstated the effectiveness of its designs and reliability; (4) Astra significantly overstated its plans for diversification and its broadband constellation plan; and (5) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On December 29, 2021, market researcher Kerrisdale Capital released a report entitled "Astra Space, Inc (ASTR): Headed for Dis-Astra" (the "Report") which alleged a myriad of issues with the Company. As detailed in the complaint, the Report detailed concerns about the Company's: (i) "claims that it can launch anywhere"; (ii) "reliability and quality issues"; and (iii) "plans for diversification and its broadband constellation plan." Following that Report, shares of the Company's stock fell $1.10 per share, or approximately 14% in value, to close at $6.61 per share on December 29, 2021, on unusually heavy trading volume.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Astra Space's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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