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Technology

Jun. 9, 2023

Space tech company settles stock drop suit for $36.5M

The litigation followed Maxar Technologies' February 2017 acquisition of Digital Globe for $2.4 billion. In October 2018 Maxar announced a $432 million loss and its stock price allegedly dropped 45% in one day.

A Santa Clara County judge preliminarily approved a $36.5 million settlement Thursday of a shareholder lawsuit filed against space technology company Maxar Technologies LTD after its stock price dropped 45% in one day.

Maxar previously denied the allegations of misrepresentations in a demurrer and accepted no liability under the terms of the settlement agreement. In re: Maxar Technologies, Inc., 19CV357070 (Santa Clara Super. Ct. filed Oct...

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