A securities class action has been filed in the USDC — C.D.CA. against Rocket Lab USA, Inc. (RKLB) (“Rocket Lab” or the “Company”), on behalf of all persons or entities who purchased or otherwise acquired Rocket Lab securities between November 12, 2024, and February 25, 2025, both dates inclusive (the “Class Period”).
Rocket Lab is a space company which provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing and other spacecraft and on-orbit management solutions. In March 2021, the Company announced plans to develop a reusable-ready medium-capacity launch vehicle to increase the payload capacity of its space launch vehicle. The Company refers to this vehicle as the Neutron Launch Vehicle (“Neutron”). In early 2024, Rocket Lab announced it would conduct a test launch of Neutron in mid-2025, with three commercial launches in 2026 and five in 2027.
The Complaint alleges that, throughout the Class Period, the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors 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;
(4) Neutron’s only contract was made at a discount with an unreliable partner; and
(5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby harming investors.
As a result of Bleecker Street Research report, the Rocket Lab’s stock price fell $2.21, or 9.8%, to close at $20.28 per share on February 25, 2025, on unusually heavy trading volume.
If you purchased Rocket Lab securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.