The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Virginia on behalf of those who acquired AeroVironment, Inc. (“AeroVironment” or the “Company”) (NASDAQ: AVAV) securities during the period from June 29, 2021 through December 7, 2021, inclusive (the “Class Period”). Investors have until October 30, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On December 7, 2021, AeroVironment announced second quarter earnings below market estimates and reduced revenue guidance for the remainder of the fiscal year from a range of $560 million to $580 million down 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, the price of AeroVironment shares declined by $21.97 per share, or approximately 27.48%, from $79.95 per share to close at $57.98 on December 7, 2021.

If you purchased or otherwise acquired AeroVironment securities, have information, or would like to learn more about this lawsuit and how it might affect your rights, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: https://www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231018268593/en/