Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against AeroVironment, Inc. (“AeroVironment” or the “Company”) (NASDAQ: AVAV) in the United States District Court for the Eastern District of Virginia on behalf of all persons and entities who purchased or otherwise acquired AeroVironment securities between June 29, 2021 and December 7, 2021, both dates inclusive (the “Class Period”). Investors have until October 30, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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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.
If you purchased or otherwise acquired AeroVironment shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.