Squitieri & Fearon LLP and Moore Kuehn PLLC File Class Action Suit Against Terran Orbital Inc., et al.

NEW YORK, Feb. 17, 2023 /PRNewswire/ -- Squitieri & Fearon LLP and Moore Kuehn PLLC today announced that it filed a class action seeking to represent stockholders of Terran Orbital Inc., ("Terran") (NYSE: LLAP) who purchased their stock before March 28, 2022 (the "Class Period"). This action was filed in the Southern District of New York and is captioned Jeffrey Mullen, Individually and on Behalf of All Others Similarly Situated v. Terran Orbital, Inc. et al., Case No. 1:23-cv-01394.

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Terran stock during the Class Period to seek appointment as lead plaintiff in the Terran class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Terran class action lawsuit.

The lead plaintiff can select a law firm of its choice to litigate the Terran class action lawsuit. An investor's ability to share in any potential future recovery of the Terran class action lawsuit is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff in the Terran class action lawsuit, you must move the Court no later than 60 days from February 17, 2023. If you wish to discuss the Terran class action lawsuit or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Lee Squitieri of Squitieri & Fearon LLP at (212) 421-6492 or via e-mail at lee@sfclasslaw.com or Fletcher Moore of Moore Kuehn PLLC at (212) 709-8245 or via e-mail at fmoore@moorekuehn.com

The Terran class action lawsuit charges Terran and certain of its officers with violations of securities laws. The complaint alleges that, throughout the Class Period, class members through their employment with Legacy TOC and who were induced to vote in favor of the merger via a materially false and misleading Proxy Prospectus but later were restricted from, or otherwise unable to, sell or dispose of their post-merger Terran Orbital ("New TOC") common stock because of the misfeasance and/or malfeasance of the Defendants named herein. The New TOC stock was itself issued in violation of the Securities Act of 1933 because it was issued from a materially false and misleading S-4 Registration Statement and Prospectus ("S-4"). Defendants' failure to timely provide Plaintiff and class members with New TOC stock which was freely tradeable on the "Effective Date" as defined in the Merger Agreement also breached a contract formed between non-insider Legacy TOC common stockholders and Legacy TOC and New TOC.

Squitieri & Fearon, LLP is one of the Nation's leading law firms representing investors in securities litigation. Squitieri & Fearon has been recognized by courts throughout the country for its high-quality and professional experience handling complex lawsuits, particularly in the fields of securities, ERISA, wage and hour, mass torts, shareholder derivative actions and antitrust claims. Squitieri & Fearon attorneys are consistently recognized by courts, professional organizations and the media as leading lawyers in the industry. Please visit http://www.sfclasslaw.com for more information.

Moore Kuehn is a New York City law firm with attorneys representing investors and consumers in litigation involving class actions, securities laws, breaches of fiduciary duties, and other claims. For additional information about Moore Kuehn, please visit http://www.moorekuehn.com/practice/new-york-securities-litigation/.

Contact:

Squitieri & Fearon, LLP
Lee Squitieri (212) 421-6492
lee@sfclasslaw.com

or

Moore Kuehn PLLC
Fletcher Moore (212) 709-8245
fmoore@moorekuehn.com

SOURCE Moore Kuehn, PLLC