SHAREHOLDER ALERT: Potential Recovery for AeroVironment, Inc. (AVAV) Investors Affected by Stock Drop – Levi & Korsinsky Pursuing Class Action Lawsuit
News provided byACCESSWIRE
Sep 19, 2023, 5:45 PM ET
NEW YORK, NY / ACCESSWIRE / September 19, 2023 / If you suffered a loss on your AeroVironment, Inc. (NASDAQ:AVAV) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: https://zlk.com/pslra-1/aerovironment-lawsuit-submission-form?prid=48857&wire=1 or contact Joseph E. Levi, Esq. via email at email@example.com or call (212) 363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: A class action securities lawsuit was filed against AeroVironment, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between June 29, 2021 and December 7, 2021.
CASE DETAILS: 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.
WHAT'S NEXT? If you suffered a loss in AeroVironment stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/aerovironment-lawsuit-submission-form?prid=48857&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
SOURCE: Levi & Korsinsky, LLP
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