||Maxar Technologies Inc.
||United States District Court for the District of Colorado
||The Hon. William J. Martinez
||March 26, 2018 - January 6, 2019
On January 14, 2019, the initial complaint in this securities class action was filed against Maxar Technologies Inc. (“Maxar” or the “Company”), and certain of Maxar’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of purchasers of Maxar securities between March 26, 2018 and January 6, 2019, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Maxar improperly inflated the value of its intangible assets, among other accounting improprieties; (2) Maxar’s highly-valued WorldView-4 was equipped with CMGs that were faulty and/or ill-suited for their designed and intended purpose; and (3) as a result, Maxar’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On October 7, 2019, Lead Plaintiffs filed a consolidated complaint (the “Complaint”). Defendants filed a Motion to Dismiss the Complaint on December 6, 2019. On September 11, 2020, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Lead Plaintiffs filed a Motion to Certify Class on February 12, 2021. On September 20, 2022, Plaintiffs filed a Motion for Preliminary Approval of Settlement. On October 3, 2022, the Court issued an Order indicating that the parties have reached a settlement and have requested preliminary approval of said settlement. The Court has not preliminarily approved the proposed settlement and no final settlement hearing has been scheduled yet. This action remains ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at email@example.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.