Johnson Fistel Announces a Class Action Lawsuit has been Filed Against AeroVironment, Inc. (AVAV)

SAN DIEGO, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP notifies investors of AeroVironment, Inc. (“AeroVironment” or the “Company”) (NASDAQ: AVAV) a securities class action lawsuit has been filed. The lawsuit seeks to recover losses on behalf of investors who acquired securities within the class period. Investors who acquired securities during the class period, June 29, 2021 and December 7, 2021, inclusive (the “Class Period”) are encouraged to review the following information.

If you would like more information and want to join the class action please click or copy and paste the following link:

https://www.johnsonfistel.com/investigations/aerovironment

There is no cost or obligation to you.

Complaint Allegations: 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. Following 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 can Investors Do: Shareholders who incurred losses during the class period, have until October 30, 2023, to move the court to become a lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.

Johnson Fistel, LLP is a shareholder rights law firm representing individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information, visit their website http://www.johnsonfistel.com.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com 
or
Frank Johnson, 619-309-4405
fjohnson@johnsonfistel.com