Hagens Berman Notifies Investors in Maxar Technologies (NYSE: MAXR) of March 15, 2019 Lead Plaintiff Deadline and CEO Departure
Jan 19, 2019
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SAN FRANCISCO, -- Hagens Berman Sobol Shapiro LLP notifies investors in Maxar Technologies Ltd. (NYSE: MAXR) of the securities class action pending in the United States District Court for the District of Colorado and the March 15, 2019 Lead Plaintiff deadline. If you purchased or otherwise acquired MAXR securities between March 29, 2018 and January 7, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
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.
“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.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
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