The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of AeroVironment, Inc. (NASDAQ: AVAV) who purchased securities between June 29, 2021 and December 7, 2021. The action, which was filed in the United States District Court for the Eastern District of Virginia, alleges that the Company violated federal securities laws.
The complaint alleges that 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.
Shareholders have until October 30, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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