SATS INVESTIGATION ALERT: Robbins Geller Rudman & Dowd LLP Launches Investigation into EchoStar Corporation and Encourages Investors with Substantial Losses or Witnesses with Relevant Information to Contact Law Firm
SAN DIEGO--(BUSINESS WIRE)--Jun 5, 2025--
The law firm of Robbins Geller Rudman & Dowd LLP is investigating potential violations of U.S. federal securities laws involving EchoStar Corporation (NASDAQ: SATS) focused on whether EchoStar and certain of its top executives made false and/or misleading statements and/or failed to disclose material information to investors.
If you have information that could assist in the EchoStar investigation or if you are an EchoStar investor who suffered a loss and would like to learn more, you can provide your information here:
https://www.rgrdlaw.com/cases-echostar-corporation-investigation-sats.html
You can also contact attorneysJ.C. SanchezorJennifer N. Caringalof Robbins Geller by calling 800/449-4900 or via e-mail at[email protected].
THE COMPANY: EchoStar, together with its subsidiaries, provides networking technologies and services.
THE REVELATIONS: On May 12, 2025, The Wall Street Journal published an article entitled 'FCC Threatens Charlie Ergen's Hold on Satellite, 5G Spectrum Licenses,' reporting that '[t]he Federal Communications Commission told Ergen, the chairman and co-founder of network operator EchoStar, that the agency's staff would investigate the company's compliance with federal requirements to build a nationwide 5G network.' Following this news, the price of EchoStar stock fell more than 16%.
Then, on May 30, 2025, EchoStar disclosed that it had 'elected not to make an approximately $326 million cash interest payment due on May 30, 2025' in order 'to allow time for the FCC to provide the relief requested in our Response prior to the expiration of the 30-day grace period, so that we may confidently continue investing in our network buildout and expansion of our Boost business and [mobile-satellite service].' Following this news, the price of EchoStar stock fell an additional 12%.
And on June 2, 2025, EchoStar similarly revealed that '[i]n light of the uncertainty raised by the Federal Communications Commission ('FCC') review disclosed . . ., EchoStar . . . has elected not to make approximately $183 million in cash interest payments due on June 2, 2025' in order 'to allow time for the FCC to provide the relief requested in our FCC filing prior to the expiration of the 30-day grace period.' Following this news, the price of EchoStar stock fell more than 11%.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250604154367/en/
CONTACT: Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
[email protected]
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Geller Rudman & Dowd LLP
Copyright Business Wire 2025.
PUB: 06/05/2025 07:15 AM/DISC: 06/05/2025 07:15 AM
http://www.businesswire.com/news/home/20250604154367/en
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