Tue. Sep 26th, 2023
Viasat Faces Investor Investigation over Potential Securities Fraud

Pomerantz LLP is currently conducting an investigation on behalf of investors of Viasat, Inc. (VSAT) to determine whether the company and certain officers or directors have engaged in securities fraud or other unlawful business practices. The law firm encourages affected investors to reach out to Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

Viasat, a global communications company, recently disclosed a malfunction in its Viasat-3 Americas satellite that occurred during the deployment of a reflector. As a result of this news, Viasat’s stock price experienced a significant drop of $12.24 per share, or 28.48%, closing at $30.74 per share on July 13, 2023.

In addition, on August 24, 2023, Viasat issued a press release confirming that its Inmarsat-6 F2 (I6 F2) satellite, launched earlier in February, encountered a power subsystem anomaly during its orbit-raising phase. Both Viasat and Airbus, the satellite’s manufacturer, are currently exploring the cause of the anomaly and assessing the satellite’s ability to fulfill its mission. Subsequently, Viasat’s stock price fell $1.34 per share, or 4.99%, closing at $25.54 per share on August 25, 2023.

Pomerantz LLP, a renowned law firm specializing in corporate, securities, and antitrust class litigation, has been at the forefront of securities class actions for over 85 years. The firm was established by Abraham L. Pomerantz, a trailblazer in the field, and continues to fight for the rights of securities fraud victims, breaches of fiduciary duty, and corporate misconduct. It has successfully recovered billions of dollars in damages on behalf of class members.

Please note that the information provided is a summary of the original article and should not be considered as legal or investment advice. For more information, please visit Pomerantz LLP’s website at www.pomlaw.com.