ONGOING INVESTIGATION ALERT: The Schall Law Firm Encourages Investors in Astra Space, Inc. with Losses of $100,000 to Contact the Firm
LOS ANGELES, Dec. 31, 2021 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Astra Space, Inc. f/k/a Holicity, Inc. ("Astra" or "the Company") (NASDAQ: ASTR) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Astra is the subject of a research report published by Kerrisdale Capital on December 29, 2021, titled: "Astra Space, Inc (ASTR): Headed for Dis-Astra." The report alleges that: "Astra's rocket launch projections are nonsense. No market analysis supports Astra's planned 300+ launches by 2025." The report adds, "post-merger cash on hand – originally touted as sufficient to fully fund the company until daily launch in 2025 – is now only enough to cover monthly launches in 2023." Additionally, the report claims: "the seemingly mundane issue of finding somewhere to launch is a risk to Astra's long-term vision because contrary to management's oft repeated claim – Astra can't launch from anywhere." Finally, Kerrisdale Capital writes: "Recent M&A and a broadband constellation announcement smack of trying to run SpaceX's playbook – but without any of SpaceX's resources and without having first established basic launch reliability." Based on this news, shares of Astra dropped by more than 14% in intraday trading on December 29, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com
SOURCE The Schall Law Firm
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