YOUR AD HERE — REACH DISCERNING READERS OF SERIOUS JOURNALISM
Rates upon inquiry. Clowns extra.
COURTS✒ EDITORIALABSURDITY:
Class claims cellular satellite company AST SpaceMobile duped investors
Filed 1h ago · Via Courthouse News · The Buffoon Desk
THIS STORY IS SCORED
Marty Gots a Plan
Kevin MacLeod · incompetech.com · CC BY 4.0
Photo: Internet Archive Book Images · No restrictions · via Wikimedia Commons
An investor filed a federal class action against AST SpaceMobile, accusing the company and its executives of misleading investors about its competitive position in the direct-to-cellular satellite market. The Texas-based company, which partners with AT&T and Verizon, had its stock downgraded twice within months after SpaceX purchased $17 billion in spectrum licenses from EchoStar, intensifying competition.
The lawsuit points to a March 2025 press release in which CEO Abel Avellan claimed the company had 'never been clearer' in its vision, shortly before analysts cited weak user adoption and SpaceX's dominance as reasons to sell. AST shares now trade around $58, down from a May peak of $133, though still up over the past year.
The full dispatch is available from the source below.
✒ FROM THE EDITORIAL DESK
A CEO calling his own vision 'never clearer' right before the stock loses more than half its value from its peak is the kind of sentence that reads differently in hindsight than it did in the press release. Nobody forces an executive to talk like a fortune cookie, they choose to. The lawsuit will sort out the legal blame, but the calendar alone tells you something about the timing.
