Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises AeroVironment, Inc. (NASDAQ: AVAV) investors that a lawsuit filed on behalf of investors that purchased AeroVironment securities between June 29, 2021 and December 7, 2021, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
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%.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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