AeroVironment, Inc.

Class Period Start: 06/29/2021

Class Period End: 12/07/2021

Registration Deadline: 10/30/2023

A securities class action has been filed in the USDC – E.D.VA. against AeroVironment, Inc. (AVAV) (“AeroVironment” or the “Company”) on behalf of a class consisting of all persons and entities that purchased or otherwise acquired AeroVironment securities between June 29, 2021 through December 7, 2021, both dates inclusive (the “Class Period”).


The Complaint alleges that the Defendants made false and/or materially misleading statements by creating 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. In truth, AeroVironment had been experiencing a decline in sales in all of their core businesses. Defendants misled investors by providing the public with materially flawed revenue guidance for fiscal 2022.


On December 7, 2021, AeroVironment 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. On this news, AeroVironment’s stock declined the following day by nearly 30% to close at $57.98/share causing significant losses to shareholders at the time.


If you purchased AeroVironment securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.


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