Girard Sharp LLP, a national investment, securities, and consumer class action and complex litigation firm, announces that it is investigating claims on behalf of investors of investors who purchased Holicity Inc. stock prior to its merger with Astra Space Inc. (Nasdaq: ASTR).

The investigation focuses on whether the Company issued false and/or misleading statements and/or neglected to conduct adequate due diligence before recommending that stockholders approve Holicity’s merger with Astra.

Astra is a company that aims to provide cheap, mass-produced rockets capable of daily launches by 2025. The company became the first publicly-traded space-launch company on July 1, 2021 when it merged with Holicity, a special purpose acquisition company. That merger was announced on February 2, 2021. At the time, investors were told that Astra’s launch systems would be able to “launch from anywhere in the world in 24 hours,” and would be the “most affordable launch systems for small payloads.” An amended quarterly report filed October 22, 2021 represented that Astra’s “rocket requires a launch site with little more than a concrete pad and only six Astra employees on-site, . . . and [Astra’s] production system is designed to scale efficiently to hundreds of launches per year. [Astra’s] rocket’s payload capacity is tailored for the needs of modern LEO satellite constellations.”

Recent reports suggest that these and other similar statements were false and misleading. The reports indicate that Astra does not have the capability to scale as represented to investors and that sufficient market demand for its business model may be lacking.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Adam Polk of Girard Sharp LLP, 601 California Street, Suite 1400, San Francisco, CA 94108, at (866) 981-4800, to discuss your rights free of charge. You can also reach us through the firm’s website at www.girardsharp.com, or by email at apolk@girardsharp.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

Girard Sharp represents investors, consumers, and institutions in class actions and other complex litigation nationwide. We serve on the Plaintiffs’ executive committee in the recent spoofing litigation against JPMorgan Chase that settled for $60 million, a favorable resolution that the district court preliminarily approved in December 2021. Our attorneys have obtained multimillion-dollar recoveries for victims of unfair and deceptive practices in antitrust, financial fraud, and consumer protection matters against some of the country’s largest corporations, including Raymond James, John Hancock, and Sears. Girard Sharp has earned top-tier rankings from U.S. News and World Report for Securities and Class Action Litigation and has been repeatedly selected as an Elite Trial Lawyers finalist by the National Law Journal.

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