A lawsuit was filed on behalf of investors in AeroVironment, Inc. (NASDAQ:AVAV) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/13/2023 -- The Shareholders Foundation announced that an investor, who purchased shares of AeroVironment, Inc. (NASDAQ: AVAV), filed a lawsuit over alleged violations of Federal Securities Laws by AeroVironment, Inc.
Investors who purchased shares of AeroVironment, Inc. (NASDAQ: AVAV) have certain options and for certain investors are short and strict deadlines running. Deadline: October 30, 2023. NASDAQ: AVAV investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
AeroVironment, Inc. designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally.
On December 7, 2021, AeroVironment, Inc. announced second quarter 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.
Shares of AeroVironment, Inc. (NASDAQ: AVAV) declined from $96.12 per share on November 05, 2021, to $53.50 per share on December 07, 2021.
The plaintiff claims that between June 29, 2021 and December 7, 2021, the Defendants created the false impression that they possessed reliable information pertaining to the Company's projected growth and record backlog and also minimized any risk from COVID-19, specifically explaining they were monitoring supply chain issues and affirmed their record backlog would provide a basis for strong growth, that Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning procurement delays, supply chain issues, staffing shortages and possession of a record backlog, causing Plaintiff and other shareholders to purchase AeroVironment's securities at artificially inflated prices.
Those who purchased shares of AeroVironment, Inc. (NASDAQ: AVAV) have certain options and should contact the Shareholders Foundation.
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