ASTS Stockholder Alert: Shareholder Rights Law Firm Robbins LLP Reminds Investors of the Class Action Lawsuit Against AST SpaceMobile, Inc.

Shareholder rights law firm Robbins LLP reminds investors that a class action was filed on behalf of persons and entities who purchased or otherwise acquired AST SpaceMobile, Inc. (NASDAQ: ASTS ) securities between March 4, 2025 and July 15, 2026, inclusive (the Class Period). AST, together with its subsidiaries, designs and develops the constellation of BlueBird ("BB") satellites in the U.S. The Company provides a cellular broadband network in space for direct access by smartphones for commercial use and other applications, as well as for government use. The complaint alleges that AST misled investors regarding its competitive position in the satellite D2C market. Investors who suffered significant losses during the Class Period may be eligible to participate in the lawsuit and should contact Robbins LLP for information prior to the November 13, 2026, lead plaintiff deadline.

Why Was AST Sued? Plaintiff alleges that defendants touted AST's purportedly unique competitive advantages and leadership position in the satellite direct-to-cellular ("D2C") market. Defendants' assurances regarding AST's purportedly durable competitive position in the satellite D2C market came into question in September 2025, when EchoStar Corporation ("EchoStar") announced that it had entered into a definitive agreement with SpaceX to sell its AWS-4 and H-block spectrum licenses (the "EchoStar Transaction"). In connection with the EchoStar Transaction, SpaceX and EchoStar agreed to enter into a long-term commercial agreement, enabling EchoStar's Boost Mobile subscribers—through its cloud-native 5G core—to access SpaceX's next generation D2C service provided by its telecommunications subsidiary Starlink Services, LLC. Following the EchoStar Transaction, however, defendants continued to assure investors and the market that AST remained in a competitive class of its own, with the Company poised to realize significant revenues and profits in the near-term. Likewise, defendants continuously represented that AST's capital and liquidity position was sufficient to meet its strategic and business goals at all relevant times, notwithstanding the heightened competitive pressures it faced following the EchoStar Transaction.

According to the complaint, during the Class Period, defendants failed to disclose that: AST's increasing capital requirements were likely to increase the Company's debt load and share dilution with greater frequency and at greater scale than defendants had signaled to investors; accordingly, defendants had overstated the sufficiency of AST's capital and liquidity position to achieve its strategic and business goals; defendants likewise overstated the durability of AST's competitive position in the satellite D2C market; even following the EchoStar Transaction, defendants continued overstating AST's competitive position in the satellite D2C market; AST was experiencing slow user adoption in the U.S. and Japan; the foregoing was likely to have a significant negative impact on the Company's business and financial prospects; and as a result, defendants' public statements were materially false and misleading at all relevant times.

Why Did AST's Stock Drop? Between September 8, 2025 and July 15, 2026, a series of stock downgrades and company disclosures caused AST's stock to fall significantly. Specifically, on October 21, 2025, AST announced "its intent to offer . . . $850.0 million aggregate principal amount of convertible senior notes due 2036 (the 'Notes') in a private offering", and that it "intends to grant the initial purchasers of the Notes . . . an option to purchase . . . up to an additional $150.0 million aggregate principal amount of Notes." AST was to use the proceeds from this offering "for general corporate purposes, including without limitation funding the deployment of AST SpaceMobile's worldwide constellation of satellites in anticipation of adding incremental strate...