INTELSAT S.A. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Northern Dis...

NEW YORK, April 14, 2020 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of investors who purchased Intelsat S.A. ("Intelsat" or the Company") (NYSE: I) shares between November 5, 2019 and November 18, 2019 inclusive (the "Class Period).

All investors who purchased shares of Intelsat S.A. and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in the shares of youmay,no later than June 8, 2020, request that the Court appoint you lead plaintiff of the proposed class.

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CLICK HERE TO JOIN THE CASE 

On November 5, 2019, 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.

According to the filed complaint, defendants violated provisions of the Securities Exchange Act of 1934 by selling Intelsat shares while in possession of material non-public information, including that the FCC opposed Intelsat's proposal and instead favored a public auction of the C-Band.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com 
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. 

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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP