Terran Orbital Faces Class Action Lawsuit Over Securities Violations
- A class action lawsuit has been filed against Terran Orbital Corporation for alleged securities fraud.
- The lawsuit claims the company misled investors about its financial situation and the timeline for generating revenue.
- Investors affected by the alleged fraud have until November 26, 2024, to act on their rights.
On October 14, 2024, a class action securities lawsuit was announced against Terran Orbital Corporation, a company listed on the NYSE under the ticker LLAP. The lawsuit aims to recover losses for investors who were affected by alleged securities fraud occurring between August 15, 2023, and August 14, 2024. The complaint claims that the company misled investors regarding the timeline for converting customer contracts into revenue and free cash flow, as well as its liquidity situation. It is alleged that Terran concealed the severity of its financial difficulties, leading to materially false and misleading public statements. Investors who suffered losses during this period have until November 26, 2024, to request appointment as lead plaintiff in the case, although participation in any recovery does not require this role. Levi & Korsinsky, LLP, a law firm with a strong track record in securities litigation, is representing the investors in this case, emphasizing their commitment to securing justice for aggrieved shareholders.