York Space Systems is under fire as a new class action lawsuit alleges the firm misled investors regarding the status of its satellite software and its heavy reliance on a single government contract.
Securities class action lawsuit alleges mission-critical software was incomplete at launch and 96% of revenue depended on a single program, creating material downside risk.
York Space Systems faces a securities class action lawsuit alleging the company concealed critical software defects and extreme revenue concentration. Plaintiffs claim 96% of revenue relied on a single Pentagon program, creating undisclosed material risks for investors.
The lawsuit alleges that the company failed to disclose that its mission-critical satellite software was incomplete at launch and that its revenue was dangerously concentrated in a single Pentagon program.