Fri. Sep 29th, 2023
Viasat Inc. Faces Security Fraud Investigation

Pomerantz LLP is conducting an investigation on behalf of investors of Viasat, Inc. (NASDAQ: VSAT) regarding potential securities fraud or other unlawful business practices. The investigation focuses on Viasat and certain officers’ and/or directors’ alleged involvement in these activities. Viasat investors who wish to participate in the investigation should contact Robert S. Willoughby.

Viasat recently revealed a malfunction in its Viasat-3 Americas satellite during reflector deployment. This announcement led to a significant decline in the company’s stock price, with a decrease of $12.24 per share or 28.48% on July 13, 2023.

Additionally, on August 24, 2023, Viasat informed the public of a power subsystem anomaly in its Inmarsat-6 F2 satellite. The company is currently working with Airbus, the satellite’s manufacturer, to analyze the root cause of the anomaly and evaluate the satellite’s ability to fulfill its mission. As a result of this news, Viasat’s stock price fell $1.34 per share or 4.99% on August 25, 2023.

Pomerantz LLP, a prominent firm specializing in corporate, securities, and antitrust class litigation, is leading the investigation. With offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, Pomeranz has been a key player in the field of securities class actions for over 85 years. The firm has a history of successfully recovering billions of dollars in damages on behalf of class members affected by securities fraud, breaches of fiduciary duty, and corporate misconduct.

For more information about the investigation, interested parties can visit Pomerantz LLP’s website.