Recent Security Class Actions

Intelsat S.A. (NYSE: I)

Company Name:Intelsat S.A.
Stock Symbol:NYSE: I
Class Period Start:11/05/2019
Class Period End (inclusive):11/18/2019
Filing Deadline:06/06/2020

The Complaint alleges that 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.

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.