MRVI INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Maravai LifeSciences Holdings, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) securities between August 7, 2024 and February 24, 2025, both dates inclusive (the 'Class Period'), have until May 5, 2025 to seek appointment as lead plaintiff of the Maravai class action lawsuit. Captioned Nelson v. Maravai LifeSciences Holdings, Inc., No. 25-cv-00499 (S.D. Cal.), the Maravai class action lawsuit charges Maravai and certain of Maravai's top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Maravai class action lawsuit, please provide your information here:
You can also contact attorneys J.C. Sanchez or of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].
CASE ALLEGATIONS: Maravai is a provider of biologics to support clinical research.
The Maravai class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Maravai lacked adequate internal controls over financial reporting related to revenue recognition; (ii) as a result, Maravai inaccurately recognized revenue on certain transactions during fiscal 2024; and (iii) Maravai's goodwill was overstated.
The Maravai class action lawsuit further alleges that on February 25, 2025, Maravai revealed that it was postponing its fiscal 2024 earnings release and would delay filing its annual report, noting that Maravai required additional time to complete its year-end financial close for reasons related primarily to 'its assessment of a potential non-cash impairment charge related to goodwill associated with its previous acquisition of Alphazyme LLC,' 'an error identified during the close process with respect to revenue recognition associated with a single shipment identified in year-end audit procedures that resulted in approximately $3.9 million in revenue being recorded in the final week of the second quarter of 2024 upon shipment when it should have been recorded in the first week of the third quarter of 2024 upon receipt by the customer,' and 'the effectiveness of its disclosure controls and procedures and internal controls over financial reporting as of December 31, 2024, and any remediation, including with respect to remediation of a material weakness in its internal controls over revenue recognition identified by management.' On this news, the price of Maravai stock fell nearly 22%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Maravai securities during the Class Period to seek appointment as lead plaintiff in the Maravai class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Maravai class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Maravai class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Maravai class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
SOURCE: Robbins Geller Rudman & Dowd LLP
Copyright Business Wire 2025.
PUB: 03/07/2025 09:30 PM/DISC: 03/07/2025 09:29 PM
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
Diamondback Energy (FANG) Rises Higher Than Market: Key Facts
In the latest trading session, Diamondback Energy (FANG) closed at $145.57, marking a +2.42% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 0.25%, while the tech-heavy Nasdaq appreciated by 0.63%. The energy exploration and production company's stock has dropped by 0.55% in the past month, falling short of the Oils-Energy sector's gain of 3% and the S&P 500's gain of 6.29%. The investment community will be closely monitoring the performance of Diamondback Energy in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $2.72, reflecting a 39.82% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.41 billion, indicating a 37.23% upward movement from the same quarter last year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.23 per share and a revenue of $14.05 billion, representing changes of -20.16% and +26.94%, respectively, from the prior year. Investors should also note any recent changes to analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.89% lower within the past month. Currently, Diamondback Energy is carrying a Zacks Rank of #3 (Hold). In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 10.74. This denotes a premium relative to the industry's average Forward P/E of 10.64. We can additionally observe that FANG currently boasts a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 2.42 at the close of the market yesterday. The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 178, placing it within the bottom 28% of over 250 industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Diamondback Energy, Inc. (FANG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
34 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures waver as US-China trade talks progress, inflation print looms
US stock futures wavered as Wall Street digested the progress on US-China trade negotiations and braced for the release of the May inflation report. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) hovered just below baseline. Meanwhile, on Tuesday in London, representatives from the US and China reached an agreement on a framework and implementation plan to ease trade tensions between the two countries. 'We have reached a framework to implement the Geneva consensus,' US Commerce Secretary Howard Lutnick said. The commerce secretary indicated that the deal should resolve issues between the two countries on rare earths and magnets. Representatives will now take the proposal to their respective leaders for approval. Read more: The latest on Trump's tariffs When the two countries struck a temporary trade agreement in Geneva in May, stocks surged. Since then, though, relations between the US and China deteriorated as both sides accused each other of violating the deal. The latest plan to resolve trade disputes followed two days of renewed trade talks in London. Nevertheless, the upbeat tone surrounding the meetings has helped lift market sentiment. Stocks edged higher on Tuesday, with the S&P 500 and Nasdaq now within striking distance of their all-time closing highs. Meanwhile, the May Consumer Price Index (CPI) report is set for release on Wednesday at 8:30 a.m. ET. Analysts expect to see that inflation increased slightly in the month that followed President Trump's introduction of higher tariff rates. With the Federal Reserve's next policy meeting next week, investors will be wary of any signs that costs associated with tariffs are being passed onto the consumer.
Yahoo
an hour ago
- Yahoo
SailPoint Strengthens South American Presence with AWS-Based SaaS Instance in Brazil
AUSTIN, Texas & SíO PAULO, Brazil, June 10, 2025--(BUSINESS WIRE)--SailPoint, Inc. (NASDAQ: SAIL), a leader in unified identity security, today announced the June launch of its first Software-as-a-Service (SaaS) instance in South America, hosted on Amazon Web Services (AWS) in Brazil. This launch highlights the strategic expansion of SailPoint's global footprint and demand for identity security solutions around the world. The Brazil SaaS instance will support increasing demand for SailPoint Identity Security Cloud regionally, addressing expectations around data sovereignty, regulatory compliance and security. The new instance will enable organizations in highly regulated industries—such as finance, healthcare and government—to unlock the business value of cloud adoption and leverage SailPoint's industry-leading identity security platform, SailPoint Atlas, locally. "Launching a SaaS instance in Brazil is more than just adding infrastructure—it's about empowering local enterprises with identity security solutions that are secure, scalable and tailored to regional requirements," said Gary Nafus, Chief Commercial Officer at SailPoint. "From our vantage point, organizations in South America are accelerating their digital transformation journeys, and we believe our regional SaaS offering will empower them to do so with confidence—improving security posture, supporting compliance efforts, and reducing operational complexity." Built as a multi-tenant SaaS environment on AWS, the Brazil instance is fully isolated from other AWS regions, designed to prevent customer data from being replicated or stored outside the region. This announcement underscores SailPoint's long-term vision to be the identity security partner of choice for global enterprises. By expanding its SaaS footprint into South America, SailPoint continues to enable organizations to scale securely, simplify compliance, and defend against today's evolving identity threats. For more information about SailPoint Identity Security Cloud visit: About SailPoint, Inc. At SailPoint, we believe enterprise security must start with identity at the foundation. Today's enterprise runs on a diverse workforce of not just human but also digital identities—and securing them all is critical. Through the lens of identity, SailPoint empowers organizations to seamlessly manage and secure access to applications and data at speed and scale. Our unified, intelligent, and extensible platform delivers identity-first security, helping enterprises defend against dynamic threats while driving productivity and transformation. Trusted by many of the world's most complex organizations, SailPoint secures the modern enterprise. View source version on Contacts Media Relations for SailPoint Samantha PersonSenior Manager, PR & Corporate
