Kaskela Law LLC announces that it is investigating AST SpaceMobile, Inc. (NASDAQ: ASTS) (“AST SpaceMobile”) on behalf of the company’s long-term shareholders.
AST SpaceMobile operates space-based cellular broadband network for mobile phones in the United States. The current company was formed in April 2021 via a business combination with SPAC entity New Providence Acquisition Corp. (NASDAQ: NPA), with AST SpaceMobile as the surviving, publicly traded entity.
Following the announcement of the proposed SPAC transaction, shares of AST SpaceMobile traded as high as $20.00 per share in February 2021. However, since that time, shares of the company’s stock have significantly declined in value, and currently trade at approximately $6.00 per share, a cumulative decline of over 70% in value.
The firm’s investigation seeks to determine whether AST SpaceMobile and/or the company’s representatives violated the securities laws or breached their fiduciary duties to stockholders in connection with the business combination, thereby causing investor losses.
AST SpaceMobile investors who purchased or acquired shares of ASTS / NPA stock prior to March 1, 2021 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by completing the form on this page, to receive additional information about this investigation and their legal rights and options.