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AeroVironment, Inc. (NASDAQ: AVAV)

Case Details

Join The Class Action
This lawsuit is for anyone who acquired securities in AeroVironment, Inc. (NASDAQ: AVAV) from June 29, 2021 through December 7, 2021.
 
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by making overwhelmingly positive revenue forecasts purportedly based on the Company’s strategic acquisitions, despite knowing that the forecasts were not likely to be correct because the Company was simultaneously concealing material adverse facts concerning procurement delays, supply chain issues and staffing shortages, among other things.
 

On December 7, 2021, AeroVironment announced that it was reducing its guidance for fiscal 2022 from between $560 and $580 million down to between $440 and $460 million due allegedly to supply chain constraints due to COVID-19, extended procurement cycles tied to the Continuing Resolution, and staffing shortages. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

 
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in AeroVironment, Inc. (NASDAQ: AVAV) from June 29, 2021 through December 7, 2021 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.