LOS ANGELES, CA / ACCESSWIRE / May 12, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against Intelsat S.A. ("Intelsat" or "the Company") (NYSE:I) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between November 5, 2019 and November 18, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before June 8, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Intelsat violated the Exchange Act by selling a block of the Company's shares while holding material non-public information. This included the fact that the Company had met with the FCC on November 5, 2019, regarding the private sale of wavebands controlled by Intelsat for future "5G" use (the "C-Band"). The FCC opposed the Company's existing plans for a private sale of the C-Band, preferring a public auction. The FCC announced a public auction of the C-Band on November 18, 2019, contrary to the Company's wishes, its stock declined by 40%. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Intelsat, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.,
SOURCE: The Schall Law Firm
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