Federal Court Gives Final Approval to $27 Million Maxar Investor Recovery

A U.S. district court gave final approval to a $27 million recovery for investors who purchased Maxar Technologies Inc. stock between May 9, 2018 and October 30, 2018.

The lead plaintiff alleged that defendants made materially false and misleading statements and omissions in Maxar’s public filings and on public conference calls with financial analysts regarding the company’s reported balance sheet assets concerning its geostationary communications satellite business and a GEO satellite contract. As a result of defendants’ misrepresentations and omissions, the price of Maxar common stock was artificially inflated during the Class Period, and once the truth was eventually disclosed, the price of Maxar stock declined, thereby damaging class members.

The plaintiff is represented by Robbins Geller Rudman & Dowd LLP attorneys Spencer A. Burkholz, Trig Smith, Jeffrey J. Stein, Christopher D. Stewart, and Nicole Q. Gilliland. 

Read the Bloomberg article (login required) at https://www.bloomberglaw.com/product/blaw/bloomberglawnews/securities-law/XF5AHJLS000000

About Robbins Geller

Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex litigation firms, representing plaintiffs in securities fraud, shareholder derivative, antitrust, corporate takeover, and consumer fraud and privacy cases. With 200 lawyers in 10 offices, Robbins Geller is one of the world’s largest plaintiffs’ firms, and the Firm’s attorneys have obtained many of the largest securities, antitrust, and consumer class action recoveries in history.

The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 — the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. The Firm secured the largest-ever securities fraud class action settlement — $7.2 billion — in In re Enron Corp. Securities Litigation.

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Or. Laborers Emps. Pension Tr. Fund v. Maxar Techs. Inc., No. 1:19-cv-00124 (D. Colo.).