NEW ORLEANS, Feb. 8, 2019 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until March 15, 2019 to file lead plaintiff applications in a securities class action lawsuit against Maxar Technologies Inc. (NYSE: MAXR), if they purchased the Company's securities between March 29, 2018 and January 7, 2019, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Colorado.
Maxar investors should visit us at https://www.claimsfiler.com/cases/view-maxar-technologies-inc-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Maxar and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 7, 2019, the Company revealed that its WorldView-4 satellite, which generated revenue of roughly $85 million in FY 2018 and had a net book value of about $155 million, could no longer produce usable imagery due to a failure in its control moment gyroscopes causing loss of stability and that it would likely not be recoverable.
On this news, the price of Maxar's shares plummeted $5.69 per share, or 48.5%.
The case is Durant v. Maxar Technologies, et al., 19-cv-00124.
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