Straight Path Communications Inc.("Straight Path") is an American company that manufactures wireless network infra equipment.

According to the law firm press release, the lawsuit alleges that throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) the commercialization prospect for Straight Path’s spectrum assets is less than touted; (2) Straight Path’s spectrum licenses were improperly obtained; and (3) as a result, Straight Path’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On April 11, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on June 17.

The Parties entered into a Stipulation of Settlement on October 10, 2017. The Parties filed an Amended Stipulation of Settlement on December 5. This Settlement was preliminarily approved on February 2, 2018. On September 7, the Court granted final approval of the Settlement and entered Final Judgment. The Court issued a Class Distribution Order on July 24, 2019.