Important information regarding Section 20(a) individual liability claims: the action alleges AST SpaceMobile’s CEO and CFO personally certified filings that overstated the sufficiency of the Company’s capital position while, as the complaint identifies, selling more than $18 million of their own stock during the Class Period.

NEW YORK, Sept. 16, 2026 /PRNewswire/ — Levi & Korsinsky, LLP alerts investors in AST SpaceMobile, Inc. (NASDAQ: ASTS) that a securities class action naming Founder, Chairman and Chief Executive Officer Abel Avellan and Chief Financial Officer and Chief Legal Officer Andrew M. Johnson as individual defendants is pending on behalf of purchasers of ASTS securities between March 4, 2025 and July 15, 2026. Find out if you may be eligible to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

ASTS closed at $55.01 on July 16, 2026, a single-session decline of $11.30 per share, or 17.04%. The window to apply for lead plaintiff closes on November 13, 2026.

The Named Individual Defendants

Two officers are named alongside the Company. Avellan has served as Chairman and CEO at all relevant times, and Johnson has served as CFO and Chief Legal Officer at all relevant times. The pleading asserts that both possessed the power and authority to control the contents of AST’s SEC filings, press releases, and other market communications, and had the ability and opportunity to prevent or correct the statements at issue.

Sarbanes-Oxley Certification Obligations

SOX certifications signed by both officers were appended to the Company’s 2024 Form 10-K and to quarterly reports during the Class Period, attesting that the filings contained no untrue statement of material fact and no material omission. Those same filings stated that existing cash on hand would be sufficient to meet anticipated capital requirements for the next twelve months.

Alleged Control Person Liability

• Signed SOX certifications accompanying the 2024 annual report and the Q1, Q2, and Q3 2025 quarterly reports
• Controlled the liquidity representations that the complaint charges overstated the sufficiency of AST’s capital position
• Approved or authorized public statements about the durability of the Company’s position in the satellite direct-to-cellular market
• As averred, sold 55,244 shares (CEO) and 190,131 shares (CFO) during the Class Period, for combined proceeds exceeding $18 million
• Are charged under Section 20(a) as control persons of AST in addition to primary liability under Section 10(b)

“Corporate officers have a duty to ensure their companies’ public statements are accurate and complete. Here, the complaint charges that senior AST SpaceMobile executives certified filings describing cash on hand as sufficient, and that three separate $1.0 billion convertible note offerings followed.” — Joseph E. Levi, Esq.

Submit your information to learn more or call (212) 363-7500.

Levi & Korsinsky, LLP is a nationally recognized shareholder rights firm. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders. Ranked in ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the ASTS Lawsuit

Q: Who are the defendants named in the ASTS lawsuit? A: The complaint names AST SpaceMobile, Inc. and individual defendants including senior executives who signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley.

Q: What court was the ASTS class action filed in? A: The case was filed in the United States District Court for the Western District of Texas, Midland/Odessa Division, governed by the Private Securities Litigation Reform Act of 1995.

Q: What is the ASTS class action lawsuit about? A: A securities class action has been filed against AST SpaceMobile, Inc. (NASDAQ: ASTS) alleging materially false and misleading statements between March 4, 2025 and July 15, 2026. Shares fell approximately 17.04% after the Company disclosed its intent to offer a third $1.0 billion of convertible senior notes on July 15, 2026. Investors who purchased shares during the Class Period and suffered losses may be eligible to seek compensation.

Q: What do ASTS investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What if I already sold my ASTS shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys’ fees and expenses subject to court approval.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171

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