A Cedar Park investor is taking rocket maker Firefly Aerospace to federal court in Austin, accusing the company of talking up its August IPO and early-quarter outlook while key parts of the business were far shakier than advertised.
The federal securities suit, filed Nov. 11, claims Firefly and several executives made materially false statements about demand for the company’s Spacecraft Solutions business and about the operational readiness of its Alpha rocket. The complaint says investors who bought in the IPO or during the class period paid the price after a rough autumn that featured a September test explosion and a lackluster quarterly report. The suit seeks class-wide damages for those shareholders.
According to the court docket on Justia Dockets & Filings, the complaint was filed by Jana K. Diamond and is docketed as Diamond v. Firefly Aerospace, No. 1:25‑cv‑01812 in the U.S. District Court for the Western District of Texas. Firefly and several current and former officers and directors are named as defendants…