AST SpaceMobile faces a securities fraud class action filed 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 complaint, Hunter v. AST SpaceMobile, Inc., No. 7:26-cv-00378, alleges that the company and its defendants made materially misleading statements or omitted information about rising capital needs, debt and share dilution, liquidity, competition in the satellite direct-to-device market, and slow user adoption in the United States and Japan. Investors have until November 13, 2026, to seek lead plaintiff status. The allegations add to previously reported securities litigation involving the company and follow a period in which AST’s shares were affected by analyst downgrades and company financing disclosures. On July 15, 2026, AST announced a $1.0 billion offering of 1.625% convertible senior notes due 2034; its Class A shares fell $11.30, or 17.04%, to $55.01 on July 16. The source says Scotiabank had downgraded AST to sell on January 7, citing competition from SpaceX’s Starlink, slow customer adoption and satellite-launch delays. An August 2026 launch of BlueBird satellites 11 to 13 increased constellation capacity and moved the network closer to continuous coverage in initial markets. Earlier investment material cited by the existing record projected $2.2 billion in 2029 revenue and $190.9 million in earnings, while more cautious assumptions included about $2.1 billion in revenue, annual share-count growth of 7% and a valuation above 100 times earnings.