SAN
FRANCISCO, Jan. 25, 2023 /PRNewswire/ -- Schubert
Jonckheer & Kolbe LLP is investigating potential derivative
claims on behalf of shareholders of Astra Space Inc. (NASDAQ: ASTR)
concerning false and misleading statements about the company's
commercial prospects in connection with its reverse merger.
Astra is an aerospace company that offers launch and space
services and aims to develop a mass-produced system of small launch
satellites. The company was created in June
2021 through a merger with Holicity Inc., a special purpose
acquisition company. Holicity's investors were drawn to the
company's statements touting its ability to quickly scale its
launch operations to meet the demand of a sizeable market.
However, in December 2021, market
researcher Kerrisdale Capital released a report alleging that
Holicity and Astra may have issued several false and misleading
statements concerning the company's prospects and capabilities.
Specifically, the report alleged that the company made false
statements about the frequency of its launch operations and the
addressable market for its services. Class action securities
lawsuits and a stockholder derivative lawsuit are pending in the
U.S. District Court for the Eastern District of New York based on the allegations above.
The Schubert Firm is investigating potential breaches of
fiduciary duty by Astra's officers and directors in connection with
these allegations.
If you own stock in Astra and wish to obtain additional
information about your legal rights, please contact us today
or visit our website at
https://www.classactionlawyers.com/astra.
About Schubert Jonckheer & Kolbe LLP
Schubert Jonckheer & Kolbe represents shareholders,
employees, and consumers in class actions against corporate
defendants, as well as shareholders in derivative actions against
their officers and directors. The firm is based in San Francisco, and with the help of
co-counsel, litigates cases nationwide.
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SOURCE Schubert Jonckheer & Kolbe LLP