NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, is investigating whether Maxar Technologies, Ltd. (“Maxar” or the “Company”) (NYSE: MAXR) or certain of its officers and directors violated federal securities laws. If you purchased MAXR stock on the New York Stock Exchange, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information.
Maxar’s goal is to be the world’s leading end-to-end space systems and geospatial services provider. The Company aims to achieve this vision by affordably solving its customers’ critical space and geospatial mission needs with tailored, integrated offerings provided through a range of business models.
This investigation concerns whether Maxar’s filings with the U.S. Securities and Exchange Commission contained untrue statements of material fact or omitted material information.
On August 7, 2018, Spruce Point Capital Management (“Spruce Point”) published a research report regarding Maxar. Spruce Point argued, in part, that Maxar “has pulled one of the most aggressive accounting schemes Spruce Point has ever seen to inflate Non-IFRS earnings by 79%.” Specifically, the report alleged that Maxar had used its acquisition of DigitalGlobe “to inflate intangible assets” and had “amended its post-retirement benefit plan to book one-time gains” in a manner that “was not fully disclosed across its investor communications.”
On this news, Maxar’s stock price fell more than 13% on August 7, 2018, to close at $38.44, down from its previous close of $44.41.
What You Can Do
If you purchased Maxar common stock on the New York Stock Exchange and you wish to discuss this investigation, please contact attorney Rhiana Swartz at (844) 818-6980, or at rswarz@scott-scott.com, or visit the Maxar investigation page on our website at https://scott-scott.com/investigation/maxar-technologies-ltd/.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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