The filed complaint alleges that defendants made false statements and/or concealed that: (1) that production of the Company’s five first generation of commercial satellites, Block 1 BlueBird satellites, had been negatively impacted by two suppliers of key subsystems; (2) a result, the Company had ...
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The filed complaint alleges that defendants made false statements and/or concealed that: (1) that production of the Company’s five first generation of commercial satellites, Block 1 BlueBird satellites, had been negatively impacted by two suppliers of key subsystems; (2) a result, the Company had not substantially completed the production of the Block 1 BlueBird satellites; (3) as a result, the Company’s five Block 1 BlueBird satellites were not on track to launch in the first quarter of 2024; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.