SAN FRANCISCO, Feb. 04, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Maxar Technologies Ltd. (NYSE: MAXR) of the March 15, 2019 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired MAXR securities between March 29, 2018 and January 7, 2019 (the “class period”) and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/MAXR
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
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.
Whistleblowers: Persons with non-public information regarding Maxar should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email MAXR@hbsslaw.com.
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Contact:
Reed Kathrein, 510-725-3000