According to the lawsuit, it alleges the defendants made false and/or materially misleading statements by creating the false impression that they possessed reliable information pertaining to the Company’s projected growth and record backlog and also minimized any risk from COVID-19, specifically explaining they were monitoring supply chain issues and affirmed their record backlog would provide a basis for strong growth. In truth, AeroVironment had been experiencing a decline in sales in all of their core businesses. Defendants misled investors by providing the public with materially flawed revenue guidance for fiscal 2022.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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