NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 15, 2019 to file lead plaintiff applications in a securities class action lawsuit against Maxar Technologies Inc. (NYSE: MAXR), if they purchased the Company’s securities between March 29, 2018 and January 7, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Colorado.
What You May Do
If you purchased securities of Maxar and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-maxr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 15, 2019.
About the Lawsuit
Maxar and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 7, 2019, the Company revealed that its WorldView-4 satellite, which generated revenue of roughly $85 million in FY 2018 and had a net book value of about $155 million, could no longer produce usable imagery due to a failure in its control moment gyroscopes causing loss of stability and that it would likely not be recoverable.
On this news, the price of Maxar’s shares plummeted $5.69 per share, or 48.5%.
The case is Durant v. Maxar Technologies, et al., 19-cv-00124.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
