Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for Western District of Texas against AST SpaceMobile, Inc.

Upcoming Lead Plaintiff Deadline is June 17, 2024

NEW YORK, April 29, 2024 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein") announces that a securities class action lawsuit has been filed in the United States District Court for the Western District of Texas on behalf of all persons and entities who purchased securities of AST SpaceMobile, Inc. ("ASTSpaceMobile" or the "Company") (NASDAQ: ASTS; ASTSW) between November 14, 2023 and April 1, 2024, inclusive (the "Class Period").

All investors who purchased shares and incurred losses are advised to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses, you may, no later than June 17, 2024, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.

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The filed Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:

• production of AST SpaceMobile's five Block 1 BlueBird satellites had been negatively impacted by two suppliers of key subsystems;
  
  
• as a result, AST SpaceMobile had not substantially completed the production of the Block 1 BlueBird satellites; and
  
  
• consequently, AST SpaceMobile's five Block 1 BlueBird satellites were not on track to launch in
  the first quarter of 2024.

The Complaint further alleges that on April 1, 2024, the Company disclosed that production of five Block 1 BlueBird satellites had been "impacted by two suppliers, leading to delays in integration and testing" that would delay the transportation of the satellites to the launch site from the first quarter of 2024 to between July or August 2024. On this news, the price of the Company's stock fell nearly 24%.

Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP