SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Maxar Technologies Ltd. - MAXR
Aug. 07, 2018
NEW YORK, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Maxar Technologies Ltd. (“Maxar” or the “Company”) (NYSE:MAXR). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Maxar and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 7, 2018, Spruce Point Capital Management (“Spruce Point”) published a research report on Maxar. The Spruce Point report alleged, in part, that Maxar “has pulled one of the most aggressive accounting schemes Spruce Point has ever seen to inflate Non-IFRS earnings by 79%”. Specifically, the report asserted that Maxar had used its acquisition of DigitalGlobe “to inflate [its] intangible assets” and had “amended its post-retirement benefit plan to book one-time gains” in a manner that “was not fully disclosed across its investor communications”. Following publication of the Spruce Point report, Maxar’s stock price fell sharply during intraday trading on August 7, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.