Portnoy Law Firm Announces Class Action on Behalf of AST Spacemobile, Inc. Investors
LOS ANGELES, Sept. 17, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises AST Spacemobile, Inc., (“AST” or the
Press Release Disclaimer: This is a press release distributed through the XPR Media network. It has not been independently verified by our newsroom.
LOS ANGELES, Sept. 17, 2026 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises AST Spacemobile, Inc., (“AST” or the “Company”) (NASDAQ: ASTS) investors of a class action on behalf of investors that bought securities between March 4, 2025 – July 15, 2026, inclusive (the “Class Period”). AST investors have until November 13, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/ast-spacemobile-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
AST SpaceMobile, along with its subsidiaries, develops and manufactures the BlueBird satellite constellation. According to a class action lawsuit, telecommunications firm EchoStar Corporation agreed in September 2025 to sell its AWS-4 and H-block spectrum licenses to SpaceX—a deal known as the EchoStar Transaction. The suit alleges this arrangement included a long-term agreement giving EchoStar’s Boost Mobile customers access to Starlink’s direct-to-cellular (D2C) services. The complaint asserts that throughout the Class Period, company executives made misleading statements and concealed crucial financial and operational realities. Specifically, the lawsuit claims defendants misrepresented the strength of AST SpaceMobile’s capital and liquidity positions, obscured the likelihood of frequent and large-scale debt and share dilution, overblown the durability of its market standing before and after the EchoStar Transaction, and hid lagging user growth across key markets in the United States and Japan.
A sequence of market actions and public disclosures triggered notable drops in the company’s Class A common stock price. On September 8, 2025, UBS downgraded the stock from “Buy” to “Neutral” and slashed its price target from $62.00 to $43.00, warning that the EchoStar Transaction strengthened Starlink’s competitive stance; shares fell more than 9%. On October 21, 2025, AST SpaceMobile announced a private offering of $850 million in convertible senior notes due 2036 to fund constellation deployment, later upsizing and pricing the offering at $1.0 billion that same day, causing the stock to drop over 9% further. Subsequently, on January 6, 2026, Scotiabank downgraded the company to “Sell” with a “Sector Underperform” rating, explicitly referencing intense competition from Starlink and sluggish user uptake in the U.S. and Japan, which prompted an additional drop of over 12%.
The stock faced further downward pressure following subsequent capital raises. On February 11 and 12, 2026, AST SpaceMobile announced and priced another private offering of $1.0 billion in convertible senior notes due 2036 at an initial conversion price of approximately $116.30 per share, sending the stock down more than 15%. Finally, on July 15, 2026, the firm revealed and priced yet another $1.0 billion offering of 1.625% convertible senior notes due 2034 at a conversion price of roughly $79.57 per share, intended for growth initiatives and vertical integration despite having no binding strategic deals in place. This final disclosure resulted in the stock plunging more than 17%.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
Attorney Advertising
