EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Maxar Technologies Inc. – MAXR
NEW YORK--(BUSINESS WIRE)--Nov 5, 2019--
Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Maxar Technologies Inc. (NYSE: MAXR) pursuant or traceable to the F-4 registration statement and prospectus (“Registration Statement”) issued in connection with MacDonald, Dettwiler and Associates Ltd.’s October 2017 acquisition of and merger with DigitalGlobe, which then rebranded itself as Maxar. The lawsuit seeks to recover damages for Maxar investors under the federal securities laws.
To join the Maxar class action, go to http://www.rosenlegal.com/cases-register-1713.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, the Registration Statement was false and/or misleading and/or failed to disclose that: (1) Maxar had dramatically overcapitalized its reported intangible assets and thereby underreported expenses and inflated earnings; (2) Maxar was already facing the likely impairment write-down or even discontinuance of its GEO communication satellite business; (3) outsized and under-absorbed overhead costs were causing reduced profitability and negative cash flows in Maxar’s SSL/Communication segment; (4) Maxar had capitalized intangible assets at a far higher rate (upwards of 500% higher) than industry peers, and thereby underreported expenses and inflated earnings; (5) consequently, Maxar’s reported financial results and trends were artificially inflated; and (6) as a result, defendants’ statements in the Registration Statement regarding Maxar’s business, operations, and prospects, were materially false and misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1713.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. 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 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191105006000/en/
CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40thFloor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: The Rosen Law Firm, P.A.
Copyright Business Wire 2019.
PUB: 11/05/2019 01:22 PM/DISC: 11/05/2019 01:22 PM