Kaskela Law LLC Announces Class Action Lawsuit Against Astra Space, Inc. and Encourages Long-Term HOL-ASTR Stockholders to Contact the Firm

PHILADELPHIA, Feb. 21, 2022 /PRNewswire/ -- Investor protection firm Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Astra Space, Inc. ("Astra" or the "Company") (NASDAQ: ASTR), f/k/a Holicity Inc. (NASDAQ: HOL), on behalf of investors who purchased HOL or ASTR shares between February 2, 2021 and December 29, 2021, inclusive (the "Class Period").

Long-term Astra stockholders who purchased or acquired HOL or ASTR shares prior to May 24, 2021 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected]) or online at https://kaskelalaw.com/cases/holicity-astra/, for additional information about this action and their legal rights and options. 

Astra operates as a space launch company. The current company was formed in July 2021 via a business combination between special purpose acquisition company ("SPAC") Holicity and Astra, with Astra as the surviving, publicly traded entity.

On December 29, 2021, market researcher Kerrisdale Capital released a report entitled "Astra Space, Inc (ASTR): Headed for Dis-Astra" (the "Report") which alleged a myriad of issues with the Company. As detailed in the complaint, the Report detailed concerns about the Company's: (i) "claims that it can launch anywhere"; (ii) "reliability and quality issues"; and (iii) "plans for diversification and its broadband constellation plan." Following that Report, shares of the Company's stock fell $1.10 per share, or approximately 14% in value, to close at $6.61 per share on December 29, 2021, on unusually heavy trading volume.

Kaskela Law LLC exclusively represents investors in state and federal actions throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

CONTACT:  

D. Seamus Kaskela, Esq. 
Adrienne Bell, Esq. 
KASKELA LAW LLC 
18 Campus Blvd., Suite 100 
Newtown Square, PA 19073 
(888) 715 – 1740 
(484) 229 – 0750 
www.kaskelalaw.com 

SOURCE Kaskela Law LLC