Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against AeroVironment, Inc. (AVAV)
NEW YORK, May 27, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of Virginia on behalf of all persons or entities who purchased or otherwise acquired AeroVironment, Inc. (“AeroVironment” or the “Company”) (NASDAQ: AVAV) securities between June 25, 2025, and March 10, 2026, inclusive (the “Class Period”).
The Complaint alleges that Defendants failed to disclose to investors that: (i) AeroVironment understated the likelihood that it would imminently face competition from other vendors for the work it performed in connection with the SCAR program and the U.S. Space Force’s ongoing efforts to modernize the SCN; (ii) accordingly, Defendants overstated AeroVironment’s business and financial prospects; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
The Complaint alleges that during the Class Period, Defendants consistently assured investors that the SCAR program would drive revenue growth for AeroVironment moving forward. The Complaint further alleges that among other items, Defendants stated that the SCAR program represented a “tremendous growth opportunity,” that AeroVironment’s work pursuant to the contract was “very much on track,” that the customer was “asking for more [BADGER systems],” and that the Company stood “ready to build more.”
The Complaint alleges that on January 20, 2026, AeroVironment announced that the U.S. government had issued a stop work order on the Company’s agreement to deliver BADGER systems to the SCAR program. The Complaint continues to allege that in the same announcement, AeroVironment stated that the stop work order “allows for the parties to negotiate an amended agreement for the future of the SCAR program” and that “[t]he Company expects to continue to deliver capabilities and products for the SCAR program.”
The Complaint alleges that on this news, AeroVironment’s stock price fell $61.97 per share, or 15.77%, to close at $330.89 per share on January 20, 2026.
Investors who purchased or otherwise acquired shares of AeroVironment should contact the Firm prior to the July 27, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
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