Maxar Technologies Ltd. (NYSE: MAXR)
Hagens Berman Sobol Shapiro LLP reminds investors in Maxar Technologies Ltd. (NYSE: MAXR) of the March 15, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the District of Colorado.
If you purchased or otherwise acquired securities of MAXR between March 29, 2018 and January 7, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing MAXR@hbsslaw.com.
On October 31, 2018, Defendants announced a massive $7.31 per share loss on sales of barely $508 million for the third quarter ended September 30, 2018. In contrast, investors had expected the Company to report a profit.
This news drove the price of Maxar shares down $12.16, or about 45%, to close at $14.91.
More recently, on January 7, 2019 Defendants announced that its WorldView-4 satellite lost its axis of stability, could not collect imagery, and will likely not be recoverable.
This news drove the price of Maxar shares down $5.69 during two trading days to close at $6.03 on January 8, 2019.
Effective January 13, 2019, Maxar’s CEO (Howard Lance) resigned from his position and from the Company’s Board of Directors.
“We’re focused on investors’ losses and the extent to which management’s statements about asset values and merger-related benefits may have been misleading,” said Hagens Berman partner Reed Kathrein.
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