According to the Complaint, Mynaric AG develops and manufactures laser communication products for aerospace-based communication networks for government and commercial markets in the U.S. and internationally. The Company’s line of products includes its CONDOR series of optical inter-satellite link flight terminals for satellite-to-satellite communications in space. This class action was filed against Mynaric and two of its Officers.

In June 2024, Mynaric provided guidance for its fiscal full year 2024 financial results, including revenue of between €50 to €70 million and an operating loss of between €40 to €30 million.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) lower-than-expected production yields and component supplier shortages of key components were causing production delays for Mynaric's CONDOR Mk3 product; (ii) the foregoing issues were likely to have a material negative impact on the Company's revenue growth and cause the Company to incur an operating loss; (iii) as a result, Mynaric was unlikely to meet its own previously issued financial guidance for FY 2024; (iv) accordingly, the Company's business and/or financial prospects were overstated; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

On January 21, 2025, the Court issued an Order appointing Lead Plaintiff and Counsel.

On April 21, 2025, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on June 2.