NEW YORK, April 17, 2020 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Intelsat S.A (NYSE: I) between November 5, 2019 and November 18, 2019, inclusive (the “Class Period”).

If you wish to serve as lead plaintiff, you must move the Court no later than June 8, 2020.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. 

To join the class action, http://zhanginvestorlaw.com/join-action-form/?slug=intelsat-s-a&id=2246 call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.

如果您想加入这个集体诉讼案，请在这里提交您的信息。http://zhanginvestorlaw.com/join-action-form/?slug=intelsat-s-a&id=2246.

According to the lawsuit, throughout the Class Period defendants violated provisions of the Exchange Act by selling a block of Intelsat shares while in possession of material non-public information, including that Intelsat had met with the Federal Communications Commission (“FCC”) on November 5, 2019, to discuss the private sale of certain wavebands controlled by Intelsat for future “5G” use (the “C-Band”) and that the FCC opposed Intelsat’s then-existing proposal, instead favoring a public auction rather than private sale of the C-Band. Then on November 18, 2019, after the FCC announced that it would publicly auction the C-Band that Intelsat had been hoping to sell privately, Intelsat’s share price declined 40% to close at $8.03 per share. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class has not been certified.  You may retain counsel of your choice.  You may take no action at this time and be an absent class member.  Your ability to obtain a recovery is not dependent upon being a lead plaintiff.  

Zhang Investor Law represents investors worldwide.  Attorney Advertising.  Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
info@zhanginvestorlaw.com
tel: (800) 991-3756

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.