Maxar Technologies Inc. Securities Litigation

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Lawsuit Overview

Defendant:Maxar Technologies Inc.
Date Filed:January 14th, 2019
Sector:Technology
Industry:Radio And Television Broadcasting And Communications Equipment
Class Start Date:March 26th, 2018
Class End Date:January 6th, 2019

According to the Complaint, Maxar is a leading global provider of advanced space technology solutions for commercial and government markets including satellites, Earth imagery, geospatial data and analytics, is at the nexus of the new space economy, developing and sustaining its infrastructure and delivering the products, services, systems and solutions that make it possible.

Among the Company's assets is the WorldView-4 satellite ("WorldView-4"). Launched in November 2016, WorldView-4 generated revenues of approximately $85 million in fiscal year 2018. The satellite had a net book value of approximately $155 million, including related assets, as of December 31, 2018. WorldView-4 is equipped with control moment gyros ("CMGs"), which are attitude control devices generally used in spacecraft attitude control systems.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Maxar improperly inflated the value of its intangible assets, among other accounting improprieties; (ii) Maxar's highly-valued WorldView-4 was equipped with CMGs that were faulty and/or ill-suited for their designed and intended purpose; and (iii) as a result, Maxar's public statements were materially false and misleading at all relevant times.

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First Identified Complaint

Logan Durant, et al. v. Maxar Technologies Inc., et al.

Date Filed:January 14th, 2019
Class Period Start:March 26th, 2018
Class Period End:January 6th, 2019
First Identified Complaint Filings
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