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. In Hunter v. AST SpaceMobile, Inc., No. 7:26-cv-00378, the complaint alleges that AST and other defendants misrepresented the company’s capital and liquidity position, expected debt and share dilution, competitive position in the satellite direct-to-consumer market, and user adoption in the United States and Japan, including after the EchoStar Transaction. The allegations have not been established in court. AST’s Class A common stock fell $11.30, or 17.04%, to close at $55.01 on July 16, 2026, after the company announced pricing for $1 billion of 1.625% convertible senior notes due 2034 on July 15; shares later fell 12.01% to $50.10 as investors focused on BlueBird satellite deployment and commercial-service execution. AST reported 13 spacecraft in orbit in its second-quarter 2026 update and expects approximately 45 by early 2027, while estimating that 45 to 60 satellites are needed for continuous coverage across the United States, Europe and Japan. Investors have until Nov. 13, 2026, to seek lead-plaintiff status.