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AVAV.US
id: 812, Created by Stan Vick, Scout
AeroVironment, Inc. (AVAV) Case on Financial Misrepresentations.
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E.D. Virginia
Court1:23-cv-01160
Case number- 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.
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07 December 2021
Filing date
29 August 2023
Lead Plaintiff Deadline
30 October 2023