Time-Sensitive: Allegations focus on AST SpaceMobile’s representations about its competitive position in satellite direct-to-cellular service and alleged slow user adoption in the U.S. and Japan.

NEW YORK, Sept. 17, 2026 /PRNewswire/ — SueWallSt alerts investors in AST SpaceMobile, Inc. (NASDAQ: ASTS) of a pending securities class action. Class Period: March 4, 2025 through July 15, 2026. Check if you might be eligible to recover your investment losses or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com | (888) SueWallSt.

ASTS dropped approximately 12.06%, or about $11.76 per share, to close at $85.73 per share on January 7, 2026 after a sell-side report cited “[e]vidence of slow user adoption in the U.S. and Japan.” The stock then slid a further 17.04%, or about $11.30 per share, to close at $55.01 on July 16, 2026. The Court has set November 13, 2026 as the deadline to apply for lead plaintiff appointment.

The Alleged U.S. and Japan User Adoption Concentration

The action claims that the Company promoted preparations to deploy nationwide intermittent service in the United States by the end of 2025, followed by the United Kingdom, Japan, and Canada in the first quarter of 2026, while uptake in those priority markets was allegedly tracking below what shareholders were given reason to expect. By January 2026, the lawsuit asserts, the Company had not yet reported a single retail customer, and adoption data from Japan pointed to single-digit penetration of a partner carrier’s wireless base.

What Management Allegedly Knew

In November 2025, roughly two months after a competitor’s spectrum agreement reshaped the direct-to-cellular field, management told the market that the Company “continues to lead the direct-to-device space-based cellular broadband industry” and that “commercial activity has significantly accelerated.” As alleged, those representations omitted that the durability of the Company’s claimed competitive advantage had been materially undercut and that user adoption in critical markets was lagging.

Competitive Realignment in Satellite Direct-to-Cellular

• SpaceX agreed in September 2025 to acquire EchoStar’s AWS-4 and H-block spectrum licenses, with S-band spectrum reported at approximately $19 billion, pairing spectrum rights with launch capacity.
• Starlink satellites account for roughly 54% of all active satellites in Earth’s orbit, with approximately 9,821 units operating in low Earth orbit.
• Starlink placed 3,169 satellites in orbit during 2025 alone, compared with seven satellites launched by the Company since 2017.
• Starlink reported 6 million monthly direct-to-device users in 2025 across markets including Japan, Canada, and the United States.
• Early carrier figures from Japan suggested only about 6% of one partner’s wireless base had subscribed to the new direct-to-device service.
• One firm reduced its 2030 revenue estimate for the Company to $3.0 billion from $3.6 billion, citing greater competition and lower long-term utilization assumptions.

“Investors deserve transparency about material risks that could affect their investments. The complaint alleges that AST SpaceMobile continued describing itself as the leader in direct-to-device satellite service after a competitor secured roughly $19 billion in spectrum rights, while evidence of slow user adoption in the U.S. and Japan went undisclosed.” — Joseph E. Levi, Esq.

Learn more about the case or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the ASTS Lawsuit

Q: What is the ASTS lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is November 13, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

Q: How much did ASTS stock drop? A: The complaint tracks a series of 5 declines: on September 9, 2025, the stock declined $3.86 per share (9.47%); on October 22, 2025, $7.26 per share (9.24%); on January 7, 2026, $11.76 per share (12.06%); on February 12, 2026, $14.70 per share (15.17%); and on July 16, 2026, the stock fell $11.30 per share (17.04%).

Q: What specific misstatements does the ASTS lawsuit allege? A: The complaint alleges AST SpaceMobile, Inc. made materially false or misleading statements regarding the durability of its competitive position in the satellite direct-to-cellular market, the sufficiency of its capital and liquidity position, and the pace of user adoption in the U.S. and Japan during the Class Period. When these conditions were disclosed, the stock price declined sharply.

Q: What do ASTS investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What if I already sold my ASTS shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys’ fees and expenses subject to court approval.

Q: Can I join a different law firm’s lawsuit instead? A: Yes. Investors may choose which law firm to contact. Multiple firms often file competing complaints. The court may consolidate related cases and appoint a single lead counsel.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@SueWallSt.com
Tel: (888) SueWallSt
Fax: (212) 363-7171

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