The Law Offices of Frank R. Cruz reminds investors of the upcoming July 27, 2026 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired AeroVironment, Inc. (“AeroVironment” or the “Company”) (NASDAQ: AVAV) securities between June 25, 2025 and June 18, 2026, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON AEROVIRONMENT, INC. (AVAV), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
On January 20, 2026, AeroVironment disclosed that the US government had issued a stop work order on the Company’s agreement to deliver BADGER phased array antenna systems to the US Space Force’s SCAR program. The Company stated 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.”
On this news, AeroVironment’s stock price fell $61.97, or 15.8%, to close at $330.89 per share on January 20, 2026, thereby injuring investors.
Then, on March 2, 2026, Space News reported that the US Space Force was reopening the SCAR program and “reassessing how to move forward.”
On this news, AeroVironment’s stock price fell $43.93, or 17.4%, to close at $208.32 per share on March 2, 2026.
Then, on March 10, 2026, AeroVironment released its third quarter fiscal 2026 financial results, reporting an operating loss of $179 million, compared to $3.1 million the previous year. The results reflected the impact of a $151.3 million goodwill impairment after the stop work order on the BADGER systems. The Company also revealed that the US Space Force had terminated the Company’s contract for the SCAR program and, as a result, it would have to “recompete” for the program.
On this news, AeroVironment’s stock price fell $13.84, or 6.2%, to close at $207.73 per share on March 11, 2026.
Then, on March 31, 2026, the US Space Force announced its decision to diversify suppliers and rely on less costly commercial, off-the-shelf solutions in connection with its work to upgrade the Satellite Control Network (“SCN”), instead of pursuing another single-vendor bespoke solution.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) 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; (2) accordingly, Defendants overstated AeroVironment’s business and financial prospects; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired AeroVironment securities between June 25, 2025 and June 18, 2026, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is July 27, 2026.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: info@frankcruzlaw.com
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. 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/20260724777158/en/
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