NEW YORK, NY / ACCESSWIRE / September 19, 2023 / Pomerantz LLP is investigating claims on behalf of investors of AeroVironment, Inc. ("AeroVironment" or the "Company") (NASDAQ:OTLK). Such investors are advised to contact Robert S. Willoughby at [email protected]or 888-476-6529, ext. 7980.
The investigation concerns whether AeroVironment and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 7, 2021, AeroVironment issued a press release announcing its second quarter earnings. Among other items, the Company announced it was reducing guidance for fiscal year 2022 from $560 - 580 million to $440 - $460 million, citing supply-chain constraints due to COVID-19, extended procurement cycles tied to continuing resolution related budget uncertainties, and staffing shortages.
On this news, AeroVironment's stock price fell $21.97 per share, or 27.48%, to close at $57.98 per share on December 7, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
SOURCE: Pomerantz LLP