ASTS INVESTOR ALERT: AST SpaceMobile, Inc. Investors With Substantial Losses May Seek to Lead Class Action Lawsuit, Robbins Geller Rudman & Dowd LLP Announces

The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of AST SpaceMobile, Inc. (NASDAQ: ASTS) securities between March 4, 2025 and July 15, 2026, both dates inclusive (the "Class Period"), have until November 13, 2026 to seek appointment as lead plaintiff of the AST SpaceMobile class action lawsuit. Captioned Hunter v. AST SpaceMobile, Inc., No. 26-cv-00378 (W.D. Tex.), the AST SpaceMobile class action lawsuit charges AST SpaceMobile and certain of AST SpaceMobile's top executives with violations of the Securities Exchange Act of 1934.

According to the complaint, in September 2025, telecommunications company EchoStar Corporation announced that it had entered into a definitive agreement with SpaceX to sell its AWS-4 and H-block spectrum licenses (the "EchoStar Transaction"). The complaint alleges that, in connection with the EchoStar Transaction, SpaceX and EchoStar Corporation agreed to enter into a long-term commercial agreement, enabling EchoStar's Boost Mobile subscribers to access SpaceX's next generation direct-to-cellular ("D2C") service provided by its telecommunications subsidiary Starlink Services, LLC.

The AST SpaceMobile class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) AST SpaceMobile's increasing capital requirements were likely to increase AST SpaceMobile's debt load and share dilution with greater frequency and at greater scale than defendants had signaled to investors; (ii) accordingly, defendants had overstated the sufficiency of AST SpaceMobile's capital and liquidity position to achieve its strategic and business goals; (iii) defendants likewise overstated the durability of AST SpaceMobile's competitive position in the satellite D2C market; (iv) even following the EchoStar Transaction, defendants continued overstating AST SpaceMobile's competitive position in the satellite D2C market; (v) AST SpaceMobile was experiencing slow user adoption in the United States and Japan; (vi) the foregoing was likely to have a significant negative impact on AST SpaceMobile's business and financial prospects; and (vii) as a result, defendants' public statements were materially false and misleading at all relevant times.

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired AST SpaceMobile securities during the Class Period to seek appointment as lead plaintiff in the AST SpaceMobile class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the AST SpaceMobile class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the AST SpaceMobile class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the AST SpaceMobile class action lawsuit.