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MAXR.US
id: 304

Maxar Technologies (MAXR) $27M Shareholder Settlement

D. Colorado
Court
1:19-cv-00124
Case number
09 May 2018
Class period Start
30 Oct 2018
Class period End
20 Oct 2023
Claim deadline
Maxar Technologies Inc. | $MAXR pays $27 million to shareholders settling the claims over misrepresenting the book value of key assets.

The complaint alleged that the Company and certain executives made materially false and misleading statements in and omissions from Maxar’s public filings and on public conference calls with financial analysts concerning:
  1. the Company’s reported balance sheet assets concerning its geostationary communications satellite business (GEO);
  2. a GEO satellite contract known as AMOS-8.
As a result of the misrepresentations and omissions, the price of $MAXR was artificially inflated, and when Maxar announced that it would take a $383.6 million impairment charge and that the AMOS-8 would be built in Israel and funded by the Israeli government, the price of Maxar stock declined, thereby damaging shareholders.
Case Status
Accepting Late Claims
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
1.66
Filing date
14 January 2019
Plaintiffs
Oregon Laborers Employers Pension Trust Fund
Attorneys
Robbins Geller Rudman & Dowd LLP
Defendants
Howard L. Lance, Anil Wirasekara
Judge
Hon. S. Kato Crews
Administrator
Gilardi & Co LLC
Settlement agreement date
2022-09-12
Court hearing date
09 November 2023
Exclusion deadline
25 September 2023
Objection deadline
25 September 2023
Hearing deadline
25 September 2023
Trades matching type
FIFO
+$27,000,000
Cash Settlement Amount

Maxar Technologies Inc

Maxar Technologies Inc. provides space solutions; and secure, precise, and geospatial intelligence solutions in the United States, Asia, South America, Europe, the Middle East, Australia, Canada, a...

    Ticker
    MAXR.US
    ISIN
    US57778K1051
    CIK
    1121142
    Sector
    Technology
    Industry
    Communication Equipment
    Country
    USA
    Address
    1300 West 120th Avenue, Westminster, CO, United States, 80234