Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to email@example.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at firstname.lastname@example.org.
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The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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AeroVironment, a company specializing in robotic systems and related services, is facing a class action lawsuit. The lawsuit claims that during a certain period, the company’s leaders made false statements and failed to disclose critical information. They allegedly created a misleading impression that they had reliable information about AeroVironment’s growth prospects and backlog, downplayed the risks of COVID-19, and assured investors that their backlog would drive strong growth. As a result, investors were allegedly misled, leading to flawed revenue guidance for fiscal year 2022.
In December 2021, AeroVironment announced its second-quarter financial results and lowered its guidance for the full fiscal year 2022. They attributed this reduction to various factors, including supply chain delays, extended procurement cycles due to the global pandemic, slower decision-making in Washington related to budget uncertainties, and staffing shortages. This announcement reportedly caused AeroVironment’s stock price to plummet by more than 27%.