NEW YORK, Feb. 28, 2025 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired Rocket Lab USA, Inc. (“Rocket Lab” or the “Company”) (NASDAQ:RKLB) securities during the period from November 12, 2024, through February 25, 2025 (“the Class Period”). Investors have until April 28, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
[LEARN MORE ABOUT THE CLASS ACTION]
On February 25, 2025, Bleecker Street Research published a report alleging, among other things, that Rocket Lab “has materially misled investors about the likelihood that its Neutron rocket will launch in mid-2025.” The report revealed that the Company’s plans for three barge landing tests, which were originally scheduled to occur in a window between September 2024 and March 2025, had been pushed back to a window beginning in September 2025 and could occur as late as March 2026. The report further revealed significant delays in preparing the Company’s launch pad, including a potable water problem not scheduled to be fixed until January 2026, which would delay launch further. The report also alleged that Rocket Lab’s only Neutron contract so far is with an “unreliable startup” named E-Space which is described as “risk item.” The report further alleged this “contract is not a full-price deal, contrary to what Rocket Lab has said.” On this news, the price of Rocket Lab shares declined by $2.21 per share, from $22.49 per share on February 24, 2025, to close at $20.28 on February 25, 2025.
The complaint alleges that defendants, throughout the Class Period, failed to disclose that: (1) the Company’s plans for three barge landing tests were significantly delayed; (2) a critical potable water problem was not scheduled to be fixed until January 2026, which delayed preparation of the launch pad; (3) as a result of the foregoing, there was a substantial risk that Rocket Lab’s Neutron rocket would not launch in mid-2025; and (4) Neutron’s only contract was made at a discount with an unreliable partner.
If you purchased or otherwise acquired Rocket Lab securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
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