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
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