AeroVironment, Inc. (AVAV) Case on Financial Misrepresentations.

The plaintiff has voluntarily dismissed the case, ending the lawsuit.

E.D. Virginia

Court

1:23-cv-01160

Case number

06/29/2021

Class period Start

12/07/2021

Class period End

10/30/2023

Lead Plaintiff motion deadline

AeroVironment announced Q2 results below market estimates and reduced revenue guidance.
$AVAV declined 27% and lost over $570 million of its market capitalization, seriously damaging shareholders.
Investors suspect AeroVironment of financial misrepresentations.

On December 7, 2021, AeroVironment announced Q2 results below market estimates and reduced revenue guidance for the remainder of the fiscal year from a range of $560 million to $580 million to a range of $440 million to $460 million.

AeroVironment also lowered its EBITDA guidance from $105 million to $110 million to $59 million to $65 million.

On this news, $AVAV declined 27% and lost over $570 million of its market capitalization, seriously damaging shareholders.

Investors may have reasons to suspect AeroVironment of financial misrepresentations.

Case Status

Voluntary Dismissed

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

12/07/2021

Filing date

08/29/2023

Lead Plaintiff Deadline

10/30/2023