Kaskela Law LLC Announces Class Action Lawsuit Filed Against Astra Space, Inc. (ASTR) and Encourages Investors with Losses in Excess of $25,000 to Contact the Firm

2/9, 11:11 PM (Source: GlobeNewswire)

PHILADELPHIA, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Astra Space, Inc. (“Astra” or the “Company”) (NASDAQ: ASTR), f/k/a Holicity Inc. (NASDAQ: HOL), on behalf of investors who purchased HOL or ASTR shares between February 2, 2021 and December 29, 2021, inclusive (the “Class Period”).

Astra operates as a space launch company. The current company was formed in July 2021 via a business combination between special purpose acquisition company (“SPAC”) Holicity (NASDAQ: HOL) and Astra, with Astra as the surviving, publicly traded entity.

On December 29, 2021, market researcher Kerrisdale Capital released a report entitled “Astra Space, Inc (ASTR): Headed for Dis-Astra” (the “Report”) which alleged a myriad of issues with the Company. As detailed in the complaint, the Report detailed concerns about the Company’s: (i) “claims that it can launch anywhere”; (ii) “reliability and quality issues”; and (iii) “plans for diversification and its broadband constellation plan.” Following that Report, shares of the Company’s stock fell $1.10 per share, or approximately 14% in value, to close at $6.61 per share on December 29, 2021, on unusually heavy trading volume.

Astra investors with financial losses in excess of $25,000 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (888) 715 – 1740, or by email (abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/holicity-astra/, for additional information about this action and their legal rights and options.

Kaskela Law LLC exclusively represents investors in state and federal actions throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.

CONTACT:  
  
D. Seamus Kaskela, Esq. 
Adrienne Bell, Esq. 
KASKELA LAW LLC 
18 Campus Blvd., Suite 100 
Newtown Square, PA 19073 
(888) 715 – 1740 
(484) 229 – 0750 
www.kaskelalaw.com 


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