LOS ANGELES–(BUSINESS WIRE)–$I #fraud—Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Intelsat S.A. (“Intelsat” or the Company”) (NYSE: I) investors concerning the Company and its officers’ possible violations of the federal securities laws.
If you suffered a loss on your Intelsat investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email [email protected] or visit our website at www.glancylaw.com to learn more about your rights.
On November 5, 2019, unbeknownst to investors, Intelsat had met with the Federal Communications Commission (FCC) 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, the FCC announced that it would publicly auction the C-Band that Intelsat had been hoping to sell privately.
On this news the Company’s share price fell $5.38 per share, or over 40%, to close at $8.03 per share, thereby injuring investors.
Whistleblower Notice: Persons with non-public information regarding Intelsat should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].
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