According to the Complaint, Genesis Park Acquisition Corp. ("GPAC") was a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. On September 2, 2021, GPAC combined with certain entities and was renamed Redwire Corporation.

Redwire purports to offer mission critical space solutions and high reliability components for the next generation space economy, with valuable IP for solar power generation and in-space 3D printing and manufacturing.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that there were accounting issues at one of Redwire’s subunits; (2) that, as a result, there were additional material weaknesses in Redwire’s internal control over financial reporting; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On March 17, 2022, the Court issued an Order appointing Lead Plaintiff. On April 4, the Court approved Lead Plaintiff's selection of Lead Counsel. Lead Plaintiff filed an amended Complaint on June 17. Defendants filed a Motion to Dismiss the amended Complaint on August 16.

On March 22, 2023, the Court issued an Order denying Defendants' Motion to Dismiss.

On November 15, 2024, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on January 24, 2025.