Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of Terran Orbital Corporation (NYSE: LLAP) between August 15, 2023 and August 14, 2024. Terran describes itself as a “company that manufactures and sells satellites for aerospace and defense industries in the U.S. and internationally.”
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The Allegations: Rosen Law Firm is Investigating the Allegations that Terran Orbital Corporation (NYSE: LLAP) Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants made materially false and misleading statements and/or failed to disclose to investors that: (1) it would take much longer than defendants had represented to investors and analysts for Terran to convert its contracts with its customers (collectively, “Customer Contracts”) into revenue and free cash flow; (2) Terran did not have adequate liquidity to operate its business while waiting for the Customer Contracts to generate revenue and free cash flow; (3) Terran had concealed the true scope and severity of its dire financial situation; and (4) as a result of the foregoing, Terran’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Terran Orbital Corporation. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by November 26, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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