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VSAT.US
id: 1021
Viasat (VSAT) Material Interruption of Service Provision Case
- On July 12, 2023, Viasat disclosed technical malfunction that could negatively impact its services and require extensive recovery measures.
- On it, $VSAT fell 28.5%, losing $1.52B+ of shareholder value.
- Investors may have grounds to suspect that Viasat hid its technical setbacks, which led to their losses.
On July 12, 2023, Viasat disclosed a malfunction during reflector deployment that may materially impact the performance of its ViaSat-3 Americas satellite.
Viasat further disclosed that contingency plans were being refined, and that options included
- redeploying satellites to optimize global coverage, and/or
- reallocating a satellite to provide additional bandwidth.
On this news, $VSAT fell 28.5% and lost over $1.52 billion of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that Viasat failed to disclose its technical setbacks, which led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
13 July 2023