NEW YORK, June 03, 2026 (GLOBE NEWSWIRE) -- Kirby McInerney LLP reminds investors who purchased AeroVironment, Inc. (“AeroVironment” or the “Company”) (NASDAQ: AVAV) securities to contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests in the securities fraud class action lawsuit at no cost.
If you suffered a loss on your AeroVironment investments, you have until July 27, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. The lead plaintiff oversees the litigation on behalf of the class and may influence key decisions, including litigation strategy and settlement. Courts regularly appoint individual investors as lead plaintiffs, not only institutions.
Follow the link below for more information about the lawsuit:
[CONTACT THE FIRM IF YOU SUFFERED A LOSS]
What Is The Lawsuit About?
The lawsuit has been filed on behalf of investors who purchased securities during the period of June 25, 2025 through March 10, 2026, inclusive (“the Class Period”). The lawsuit alleges that (i) AeroVironment understated the likelihood that it would imminently face competition from other vendors for the work it performed in connection with the Satellite Communication Augmentation Resource (“SCAR”) program and the U.S. Space Force’s ongoing efforts to modernize the Satellite Control Network (“SCN”); and (ii) accordingly, Defendants overstated AeroVironment’s business and financial prospects.
On January 20, 2026, AeroVironment announced that the U.S. government had issued a stop work order on the Company’s agreement to deliver Broad Area Deployable Ground Terminal Enabling Resilient (“BADGER”) communication systems to the SCAR program. 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.” On this news, the price of AeroVironment shares declined by $61.97 per share, or approximately 16%, from $392.86 per share on January 16, 2026 to close at $330.89 on January 20, 2026.
Then, on March 2, 2026, Space News reported that the U.S. Space Force was reopening the SCAR program and “reassessing how to move forward.” Space News quoted Colonel Owen Stevens, director of contracting at the Space Rapid Capabilities Office, which supervised SCAR, as stating, “We have been in conversations with the [senior acquisition executive] for a little while now, and we are going to move into a new acquisition strategy for SCAR.” On this news, the price of AeroVironment shares declined by $43.93 per share, or approximately 17%, from $252.25 per share on February 27, 2026 to close at $208.32 on March 2, 2026.
Then, on March 10, 2026, AeroVironment announced its financial results for the third quarter of fiscal year 2026. Among other items, AeroVironment reported a third-quarter operating loss of $179.0 million, compared to an operating loss of $3.1 million for the same period in fiscal year 2025. These financial results reflected the impact of a $151.3 million goodwill impairment in the Company’s space division after the stop work order on the Company’s BADGER systems built for the SCAR program. AeroVironment also reported that the U.S. Space Force had terminated the Company’s contract concerning the SCAR program, and as a result, it would have to “recompete” for the SCAR program. On this news, the price of AeroVironment shares declined by $13.84 per share, or approximately 6%, from $221.57 per share on March 10, 2026 to close at $207.73 on March 11, 2026.
On March 31, 2026, the U.S. 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 SCN, instead of pursuing another single-vendor bespoke solution.
[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]
What Should I Do?
If you purchased or otherwise acquired AeroVironment securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
[HOW CAN I PROTECT MY RIGHTS?]
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.
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Contacts
Kirby McInerney LLP
Lauren Molinaro, Esq.
212-699-1171
https://www.kmllp.com
https://securitiesleadplaintiff.com/
investigations@kmllp.com
