Fintech
Intelsat Shareholder Alert: Class Action Lawsuit Filed
Boston, Massachusetts–(Newsfile Corp. – April 8, 2020) – Thornton Law Firm LLP announces that a lawsuit has been filed on behalf of investors of Intelsat S.A. (NYSE: I). Investors who purchased Intelsat securities between November 5, 2019 and November 18, 2019, that are interested to serve as a lead plaintiff are encouraged to visit https://www.tenlaw.com/cases/I. Investors may also contact Thornton Law Firm at shareholder@tenlaw.com, or call 617-531-3917. There is no minimum number of shares required to be a class member.
FOR MORE INFORMATION, VISIT: https://www.tenlaw.com/cases/I
Interested shareholders have until June 8, 2020 to apply to be a lead plaintiff. The lawsuit alleges violations of the federal securities laws, and the class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. There is no minimum number of shares required to be a class member.
Intelsat S.A. is a satellite operator that provides TV and radio communications.
The lawsuit alleges that Defendants violated the Exchange Act by selling Intelsat shares while they were in possession of material non-public information, including that Intelsat S.A. had met with the Federal Communications Commission (“FCC”) on November 5, 2019, to discuss the private sale of certain wavebands controlled by Intelsat S.A. for future “5G” use (the “C-Band”) and that the FCC opposed Intelsat S.A’s then-existing proposal, instead favoring a public auction rather over a private sale of the C-Band.
It is alleged that on November 18, 2019, after the FCC announced that it would publicly auction the C-Band that Intelsat S.A. had been wanting to sell privately, Intelsat S.A’s share price declined 40% to close at $8.03 per share.
Investors who purchased Intelsat stock (NYSE: I) are encouraged to contact the Thornton Law Firm’s shareholder rights team at http://www.tenlaw.com/cases/I, by email at shareholder@tenlaw.com, or calling 617-531-3917 to discuss the lead plaintiff process.
FOR MORE INFORMATION: https://www.tenlaw.com/cases/I
Thornton Law Firm’s securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
CONTACT:
Thornton Law Firm LLP
State Street Financial Center
1 Lincoln Street
Boston, MA 02111
