Law Offices of Frank R. Cruz Encourages AeroVironment, Inc. (AVAV) Shareholders To Inquire About Securities Fraud Class Action

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders 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”). AeroVironment investors have until July 27, 2026 to file a lead plaintiff motion.

IF YOU SUFFERED A LOSS ON YOUR AEROVIRONMENT, INC. (AVAV) INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT.

You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at [e-mail], by telephone at [phone], or visit our website at www.frankcruzlaw.com.

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.

Contact Us To Participate or Learn More:

If you purchased AeroVironment securities, wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE or contact us at:

Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Telephone: [phone]
Email: [e-mail]
Visit our website at: www.frankcruzlaw.com

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