The ASTS class action lawsuit is a federal securities fraud case accusing AST SpaceMobile of misleading investors about the production schedule for its first commercial satellites. It was filed in 2024 in the U.S. District Court for the Western District of Texas on behalf of shareholders who bought ASTS stock between November 14, 2023 and April 1, 2024. A lead plaintiff and lead counsel were appointed in July 2024, and the case remains pending before Judge David Counts.1PACER Monitor. Klarkowski v. AST SpaceMobile, Inc. et al2Kessler Topaz Meltzer & Check, LLP. AST SpaceMobile, Inc.
What the Lawsuit Alleges
The case grew out of an April 1, 2024 earnings call. CEO Abel Avellan told investors that production of the company’s five Block 1 BlueBird satellites had slipped because of problems with two suppliers of key subsystems, pushing the expected launch from the first quarter of 2024 to July or August of that year.3SpaceNews. Latest Satellite Production Delay Sends AST SpaceMobile Stock Plummeting ASTS shares fell more than 23% the next day, closing at $2.01.4GlobeNewsWire. AST SpaceMobile, Inc. Investors Class Action Lawsuit Filed on Behalf of Investors
Within weeks, multiple firms filed nearly identical complaints. They allege that during the class period AST SpaceMobile failed to disclose four things:
- Production of the five Block 1 BlueBird satellites was being negatively affected by two suppliers of key subsystems.
- The company had not substantially completed building the satellites.
- The satellites were not on track to launch in the first quarter of 2024, as publicly represented.
- As a result, the company’s positive statements about its business and operations lacked a reasonable basis.
The original complaint named AST SpaceMobile as a corporate defendant along with CEO Abel Avellan and then-CFO Sean Wallace.5Frank Cruz Law. Class Action Complaint, Klarkowski v. AST SpaceMobile, Inc.6Rosen Legal. AST SpaceMobile, Inc.
Where the Case Stands
The lead case is Klarkowski v. AST SpaceMobile, Inc., No. 7:24-cv-00102, in the Western District of Texas. Zach Klarkowski moved to serve as lead plaintiff on June 17, 2024, and the court granted the motion on July 9, 2024, also approving lead counsel.1PACER Monitor. Klarkowski v. AST SpaceMobile, Inc. et al Judge David Counts is presiding.2Kessler Topaz Meltzer & Check, LLP. AST SpaceMobile, Inc.
Who Is Covered and What You Need to Do
The class covers investors who purchased or acquired AST SpaceMobile securities between November 14, 2023 and April 1, 2024. If you fall within that window, you don’t need to file anything to remain a class member or share in any eventual recovery. The lead plaintiff deadline of June 17, 2024 has passed, and the court has already appointed lead counsel to prosecute the case on behalf of the class.1PACER Monitor. Klarkowski v. AST SpaceMobile, Inc. et al
Shareholders who bought outside that window are not covered by this particular case. No settlement has been announced in the file, so there is no claim form or payout to pursue at this stage.
Other AST SpaceMobile Cases and Investigations
Several other legal actions have circled AST SpaceMobile, and they are easy to confuse with the securities class action. None of them changes what a class member in the Western District of Texas case needs to do.
Delaware Stockholder Litigation
A separate action in the Delaware Court of Chancery, In re AST SpaceMobile, Inc., Stockholders Litigation, Consol. C.A. No. 2023-1292-PAF, was voluntarily dismissed on February 11, 2025 after the lead plaintiffs decided not to pursue it. The court set an April 14, 2025 deadline for any other stockholder to intervene, and the record available in the file does not show anyone stepping in.7BusinessWire. Notice of Dismissal of AST SpaceMobile Stockholder Litigation
Hanna v. Avellan
A related federal action, Hanna et al v. Avellan et al, No. 7:24-cv-00171, was filed in the Western District of Texas against the company’s directors and two executives. It was later dropped by the investor who filed it.8Bloomberg Law. AST SpaceMobile Investor Drops Suit Against Board, Executives
Later Investigations Not Yet Filed as Lawsuits
Two more rounds of law-firm investigations opened after additional stock drops, and neither is part of the certified class period in the 2024 case. On December 15, 2025, AST announced a delay to the launch of its BlueBird 6 satellite, and the stock fell about 9.5% by December 17, closing at $61.86. Levi & Korsinsky opened an investigation into whether federal securities laws were violated in connection with the announcement.9Newsfile Corp. Investors in AST SpaceMobile, Inc. (ASTS) Warned of Potential Securities Fraud
On January 7, 2026, Scotiabank analyst Andres Coello downgraded ASTS to “Sector Underperform” with a $45.60 price target, citing SpaceX’s Starlink as an “absolute leader” in direct-to-cell, five-year deployment delays at AST, tangible free cash flow not expected to turn positive until 2028 or 2029, and more than $164 million in insider selling over the prior 90 days. ASTS fell about 12% that day to close at $85.73, and Pomerantz LLP announced an investigation into potential securities fraud. The file indicates Pomerantz was still in the investigation phase in early 2026 and had not filed a formal complaint tied to this event.10Seeking Alpha. AST SpaceMobile Faces Uphill Battle to Match Starlink’s Space Leadership11PR Newswire. Pomerantz Law Firm Investigates Claims on Behalf of Investors of AST SpaceMobile, Inc.
Investigations are not lawsuits, and losses tied to those later drops would not fall within the certified 2024 class period. If a new complaint is filed later covering a different window, it would proceed on its own docket with its own lead plaintiff deadline.