SAN DIEGO–(BUSINESS WIRE)–Robbins Geller Rudman & Dowd LLP has launched an investigation into potential violations of U.S. federal securities laws involving Viasat, Inc. (NASDAQ: VSAT) focused on whether Viasat and certain of its top executives made false and/or misleading statements and/or failed to disclose material information to investors.
If you have information that could assist in this investigation or if you are a Viasat investor who suffered a loss and would like to learn more, you can provide your information here:
THE COMPANY: Viasat provides broadband and communications products and services worldwide. Viasat’s Satellite Services segment offers satellite-based fixed broadband services. On May 1, 2023, Viasat announced “the successful launch of ViaSat-3 Americas aboard a SpaceX Falcon Heavy,” which purportedly “open[ed] a new chapter in Viasat’s growth.”
THE REVELATION: On July 12, 2023, Viasat revealed that an “event occurred during reflector deployment that may materially impact the performance of the ViaSat-3 Americas satellite.” Viasat further disclosed that “[c]ontingency plans are currently being refined” and that “[p]otential options include redeploying satellites from Viasat’s extensive fleet to optimize global coverage, and/or reallocating a subsequent ViaSat-3 class satellite to provide additional Americas bandwidth.” Following this news, the price of Viasat stock declined by nearly 29%.
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