NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Astra Space, Inc. f/k/a Holicity, Inc. (NASDAQ: ASTR, HOL) resulting from allegations that Astra may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Astra securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to http://www.rosenlegal.com/cases-register-2233.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
WHAT IS THIS ABOUT: On December 29, 2021, during trading hours, market analyst Kerrisdale Capital published a report regarding Astra entitled “Astra Space, Inc (ASTR): Headed for Dis-Astra” which alleges several issues at the Company including that “Astra’s rocket launch projections are nonsense. No market analysis supports Astra’s planned 300+ launches by 2025.” The report also alleges that “[p]ost-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[.]” Further the report alleges that “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, the report alleges that “[r]ecent 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.”
On this news, Astra’s stock price fell sharply during intraday trading on December 29, 2021.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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