San Diego, CA -- (SBWIRE) -- 10/15/2014 -- An investigation on behalf of investors of Globalstar, Inc. (NYSEMKT:GSAT) shares over potential securities laws violations in connection certain financial statements was announced.

Investors who purchased shares of Globalstar, Inc. (NYSEMKT:GSAT) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Globalstar, Inc. (NYSEMKT:GSAT) concerning whether certain statements regarding Globalstar’s business, its prospects and its operations were materially false and misleading at the time they were made.

Globalstar, Inc. reported that its annual Total Revenue rose from $72.83 million in 2011 to $82.71 million in 2013 while its respective Net Loss increased from $54.92 million to $591.12 million.
Shares of Globalstar, Inc. (NYSEMKT:GSAT) grew from $0.28 per share in April 2013 to as high as $4.46 per share in July 2014.

Then on October 1, 2014, rumor surfaced that indicated that investment management firm Kerrisdale Capital Management, LLC would announce it is short Globalstar, Inc

Then on October 6, 2014, . Kerrisdale Capital Management, LLC announce that it will host a live presentation on mobile satellite services provider, Globalstar, Inc.

Chief Investment Officer of Kerrisdale Capital Management, LLC said that Globalstar is the most egregious stock promotion it has come across since Sino-Forest and that Kerrisdale Capital Management, LLC believes that Globalstar's equity is worthless, in contrast to the Company's current $4 billion dollar market capitalization.

On October 6, 2014, Globalstar, Inc. responded to the allegations and said that Kerrisdale’s presentation is fundamentally flawed and completely mischaracterizes a combination of industry facts and Globalstar’s long-term spectrum and operational prospects. On Octboer 7, 2014, Globalstar, Inc. announced it wll host a conference call on Octboer 9, 2014 to address the Kerrisdale Capital presentation.

Shares of Globalstar, Inc. (NYSEMKT:GSAT) declined from $4.03 per share on September 19, 2104, to as low as $1.56 per share on October 13, 2014.

Those who purchased shares of Globalstar, Inc. (NYSEMKT:GSAT) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com