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Case Status:    ONGOING    
On or around 04/08/2020 (Date of last review)

Filing Date: April 07, 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.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: Luxembourg

SECURITIES INFORMATION:

Ticker Symbol: I
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 20-CV-02341
JUDGE: Hon. Jeffrey S. White
DATE FILED: 04/07/2020
CLASS PERIOD START: 11/05/2019
CLASS PERIOD END: 11/18/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Scott + Scott LLP (New York - Current)
  2. The Schall Law Firm
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available