AST SpaceMobile, Inc. faces a securities fraud class action in the United States District Court for the Western District of Texas on behalf of investors who purchased or acquired AST securities from March 4, 2025, through July 15, 2026. The case, Hunter v. AST SpaceMobile, Inc., No. 26-cv-00378 (W.D. Tex.), alleges that AST and certain top executives made materially false or misleading statements, or omitted material information, about the company’s capital and liquidity, debt and potential share dilution, competitive position in the satellite direct-to-cellular market, and user adoption in the United States and Japan. The complaint also alleges that AST continued to overstate its competitive position after EchoStar Corporation agreed to sell spectrum licenses to SpaceX in September 2025, alongside a long-term arrangement allowing EchoStar’s Boost Mobile subscribers to access Starlink Services’ next-generation direct-to-cellular service. AST shares fell $11.30, or 17.04%, to $55.01 on July 16, 2026, after a series of downgrades and disclosures, including Scotiabank’s January 7, 2026, downgrade to sell and AST’s July 15 announcement of $1.0 billion in 1.625% convertible senior notes due 2034. Investors have until November 13, 2026, to seek lead plaintiff status. Robbins Geller Rudman & Dowd LLP is promoting the action, while Kessler Topaz Meltzer & Check, LLP previously solicited affected investors; neither firm is identified as having filed the complaint in the provided materials.