Law firms filed a shareholder class-action lawsuit against AeroVironment for allegedly making false statements about a key government contract.
The lawsuit represents investors who purchased shares between June 25, 2025, and March 10, 2026.
Plaintiffs allege AeroVironment failed to disclose competition risks for the U.S. Space Force's Satellite Communication Augmentation Resource (SCAR) program.
The legal action follows a March 2026 stock rating downgrade that highlighted program uncertainty.
AeroVironment reported a $179.0 million third-quarter operating loss on March 10, 2026.
This loss included a $151.3 million goodwill impairment charge.
The charge followed a stop-work order for the SCAR program.
Investors have until July 27, 2026, to apply as lead plaintiffs in the case.