Halper Sadeh LLC is investigating potential securities law violations and fiduciary duty breaches in three major corporate transactions involving Iridium Communications, First Reliance Bancshares, and Caesars Entertainment.

The New York-based investor rights firm alleges that insiders in these deals may receive substantial financial benefits unavailable to ordinary shareholders. It further contends that proposed transaction terms could limit superior competing offers.

Transaction Details

The investigation covers three distinct acquisition proposals:

• Iridium Communications Inc. (NASDAQ: IRDM): Sale to Rocket Lab Corporation for $27.00 in cash plus shares of Rocket Lab common stock calculated via an exchange ratio.
• First Reliance Bancshares, Inc. (OTCQX: FSRL): Sale to Colony Bankcorp, Inc. for either $19.75 in cash or 0.94 shares of Colony common stock per First Reliance share.
• Caesars Entertainment, Inc. (NASDAQ: CZR): Sale to Fertitta Entertainment, Inc. for $31.00 in cash per share.

Legal Action

On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures, or other relief. The firm represents investors globally who have experienced securities fraud or corporate misconduct.

Shareholders are encouraged to contact the firm to discuss their rights on a contingent fee basis, meaning no out-of-pocket payment for legal fees is required.

Iridium Communications Inc. (NASDAQ: IRDM) has entered a strategic partnership with SKYWAVE, an ORBCOMM company, to help heavy equipment original equipment manufacturers (OEMs) build and scale more resilient connected services. Announced on July 28, 2026, the collaboration addresses critical challenges for manufacturers expanding connected services, including improving equipment uptime, modernizing legacy deployments, and delivering consistent customer experiences across fleets operating in remote or disconnected locations.

The partnership combines Iridium’s global, weather-resilient low Earth orbit (LEO) satellite network and its Short Burst Data (SBD) services with SKYWAVE’s intelligent multi-network management solution and OGx IoT platform. The integration is currently underway, with Iridium SBD being embedded directly into SKYWAVE satellite IoT terminals. This technical integration gives SKYWAVE’s heavy equipment OEM customers the option to access Iridium’s LEO satellite network, creating a flexible platform that extends connected services seamlessly across satellite, cellular, and Wi-Fi networks.

Strategic Objectives and Market Focus

The integrated solution supports a wide range of connected equipment applications for OEMs, including remote monitoring, diagnostics, predictive maintenance, service support, and the modernization of existing connected equipment fleets. While the partnership initially focuses on heavy equipment manufacturers, the underlying architecture is designed to support additional industrial verticals where assets operate globally, remotely, or beyond the reach of terrestrial networks.

Matt Desch, CEO of Iridium, emphasized the company’s two-decade history of providing the only pole-to-pole mobile satellite network. "We look forward to partnering with SKYWAVE to bring Iridium’s global LEO capabilities to industrial IoT customers operating in even the most demanding environments," Desch stated. He noted that the network delivers the coverage, resiliency, and reliability required by mission-critical operations.

Sameer Agrawal, Chief Executive Officer of ORBCOMM, described the partnership as an important step in SKYWAVE’s mission to become the intelligent networking layer for industrial IoT. "Heavy equipment OEMs are looking for ways to modernize legacy deployments, expand connected service capabilities and deliver reliable digital experiences wherever their equipment operates," Agrawal said. He added that combining Iridium’s global LEO capabilities with SKYWAVE’s platform enables OEMs to build and scale those capabilities across multiple networks.

What the Numbers Show

The partnership highlights a strategic shift in industrial IoT connectivity, moving from fragmented communications infrastructure to integrated multi-network solutions. By embedding Iridium SBD directly into SKYWAVE terminals, the companies are addressing the limitation of asset visibility and delayed service response times that often constrain the rollout of new digital capabilities in remote locations. This integration allows OEMs to maintain reliable connectivity regardless of terrestrial network availability, supporting the modernization of legacy fleets without requiring complete infrastructure overhauls.