Maxar Technologies
Settlement of Oregon Laborers Employers Pension Trust Fund v. Maxar Technologies Inc., et al., No. 1:19-cv-00124-WJM-SKC
The parties have reached a settlement of this action, pending in the United States District Court for the District of Colorado. The settlement provides for the payment of $27,000,000 for the benefit of eligible Class Members. Lead Plaintiff Oregon Laborers Employers Pension Trust Fund alleged Defendants made materially false and misleading statements and omissions in Maxar Technologies Inc.’s (“Maxar” or the “Company”) public filings and on public conference calls with financial analysts concerning (i) the Company’s reported balance sheet assets concerning its geostationary communications satellite business; and (ii) a GEO satellite contract. As a result of Defendants’ misrepresentations and omissions, the price of Maxar common stock was artificially inflated during the Class Period, and once the truth was eventually disclosed, the price of Maxar stock declined, thereby damaging the Class Members.
The Class consists of all persons and entities who purchased or otherwise acquired Maxar common stock during the period from May 9, 2018 through October 30, 2018, inclusive, and were damaged thereby. Excluded from the Class are: Defendants, present or former executive officers of Maxar and their immediate family members (as defined in 17 C.F.R. §229.404, Instructions (1)(a)(iii) and (1)(b)(ii)). Also excluded from the Class is any Person who would otherwise be a Member of the Class but who validly and timely requested exclusion in accordance with the requirements set by the Court in connection with the Settlement.
The settlement was approved by the Court on January 10, 2024.
If you have any questions about the settlement or the litigation, please contact the Shareholder Relations Department at 1-800-449-4900.
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