Court Grants Preliminary Approval of $36.5 Million Maxar Securities Settlement

On June 8, 2023, Hon. Sunil R. Kulkarni of Santa Clara County Superior Court granted preliminary approval of a $36,500,000 class action settlement in the In re Maxar Technologies Securities Litigation.

Girard Sharp serves as co-lead counsel in the litigation, with Adam Polk leading the team alongside Tom Watts. We represent a certified class of investors in DigitalGlobe, which was acquired by the space imagery company Maxar. Our clients exchanged their DigitalGlobe shares for shares of Maxar stock in the acquisition. The value of the Maxar shares collapsed when the company admitted after the merger that its balance sheet had overstated the value of certain of its core assets.

Law360 quoted Adam Polk’s statement that, after nearly four years of litigation, the court’s preliminary approval order “brings us one step closer to delivering relief to plaintiff (a main street investor) and the class.”

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