Astra Space, Inc. (NASDAQ:ASTR) Investor Notice: Lawsuit Alleges Misleading Statements

A lawsuit was filed on behalf of investors in Astra Space, Inc. (NASDAQ:ASTR) shares over alleged securities laws violations.

San Diego, CA — (SBWIRE) — 02/24/2022 — An investor, who purchased shares of Astra Space, Inc. (NASDAQ: ASTR), filed a lawsuit i over alleged violations of Federal Securities Laws by Astra Space, Inc. f/k/a Holicity, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Astra Space, Inc. (NASDAQ: ASTR) have certain options and for certain investors are short and strict deadlines running. Deadline: April 11, 2022. NASDAQ: ASTR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

Alameda, CA based Astra Space, Inc. operates as a space launch company. On December 29, 2021, market researcher Kerrisdale Capital released a report entitled, “Astra Space, Inc. (ASTR): Headed for Dis-Astra,” which alleged myriad issues with Astra Space. Among other issues, the report: (1) questioned Astra Space’s ability to launch from anywhere: “In the US, Astra [Space] can only launch from an FAA-licensed commercial spaceport approved for vertical launch. There are only 5 such sites (plus SpaceX’s private Boca Chica spaceport) located in the U.S.”; (2) questioned Astra Space’s addressable market: “Astra [Space]’s forecast calls for 300 launches per year by 2025, a whopping 10x more than SpaceX achieved in 2021. Management markets this exceptionally aspirational goal (which we view as pure fantasy) in a bid to spread its expensive Bay Area manufacturing costs over enough rockets in order to turn a profit.”; (3) questioned Astra Space’s designs and reliability: “At the current stage of Astra [Space]’s development, our source believes the risk of failure is as high as 1 in 2 launches.”; and (4) questioned Astra Space’s plans for diversification and its broadband constellation plan: “While others in the industry like Rocket Lab are developing well-suited, best-in-class technology, enabling a variety of TAM-expanding missions, Astra [Space] is settling for suboptimal acquired technology with only niche applications.”

Shares of Astra Space, Inc. (NASDAQ: ASTR) declined from $11.32 per share on November 30, 2021, to as low as $3.10 per share on February 14, 2022.

The plaintiff claims that between February 2, 2021 and December 29, 2021, the defendants made false and/or misleading statements and/or failed to disclose: (1) Astra cannot launch “anywhere”; (2) Astra significantly overstated its addressable market; (3) Astra overstated the effectiveness of its designs and reliability; (4) Astra significantly overstated its plans for diversification and its broadband constellation plan; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.

Those who purchased shares of Astra Space, Inc. (NASDAQ: ASTR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

For more information on this press release visit: http://www.sbwire.com/press-releases/astra-space-inc-nasdaqastr-investor-notice-lawsuit-alleges-misleading-statements-1353826.htm

Media Relations Contact

Michael Daniels
Shareholders Foundation
Telephone: 1-858-779-1554
Email: Click to Email Michael Daniels
Web: https://www.shareholdersfoundation.com/