Kessler Topaz Meltzer & Check said a securities fraud class action has been filed against AST SpaceMobile, Inc. in the U.S. 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, alleges that the company overstated its capital and liquidity, competitive position in the satellite direct-to-cellular market, and user adoption in the United States and Japan, while understating the potential effect of rising capital requirements on debt and share dilution. The allegations also concern AST's disclosures after the EchoStar Transaction. AST shares fell 17.04% to $55.01 on July 16, 2026, after the company disclosed pricing for $1 billion of 1.625% convertible senior notes due 2034. Scotiabank had downgraded AST to sell on Jan. 7, 2026, citing competition from SpaceX's Starlink, slow customer adoption and satellite-launch delays. Investors have until Nov. 13, 2026, to seek lead plaintiff status; choosing not to do so does not eliminate potential participation in any recovery. Robbins LLP had previously announced a related class-action notice concerning the same class period and allegations.