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Practice Area: Securities Fraud & Investor Protection
Case Status: Pending
Ticker Symbol: NASDAQ: AVAV
Investigation Deadline: July 27, 2026
National plaintiffs’ law firm Berger Montague PC announces a class action lawsuit against AeroVironment, Inc. (NASDAQ: AVAV) (“AeroVironment” or the “Company”) on behalf of investors who purchased or acquired AeroVironment common stock during the period from June 25, 2025 through March 10, 2026 (the “Class Period”).
Investor Deadline: Investors who purchased or acquired AeroVironment common stock during the Class Period may, no later than July 27, 2026, seek to be appointed as a lead plaintiff representative of the class.
AeroVironment, headquartered in Arlington, Virginia, is a leading American defense technology company that designs and manufactures autonomous systems, unmanned aircraft systems (UAS), loitering munitions, and space and directed-energy technologies in support of the U.S. Department of Defense, allied governments, and commercial clients worldwide.
According to the complaint, Defendants concealed that: (i) the Company faced a far greater risk of near-term competition from rival vendors for its work under the U.S. Space Force’s Satellite Communication Augmentation Resource (“SCAR”) program than it had disclosed, particularly given the Space Force’s broader push to modernize the Satellite Control Network (“SCN”); and (ii) in light of this undisclosed competitive exposure, Defendants had painted an unrealistically optimistic picture of AeroVironment’s business and financial trajectory.
The truth began to emerge on January 20, 2026, when AeroVironment announced that the U.S. government had issued a stop work order on the Company’s agreement to deliver BADGER systems to the SCAR program. On this news, AeroVironment’s stock price fell $61.97 per share, or 15.77%, to close at $330.89 per share on January 20, 2026.
Further disclosures followed on March 2, 2026, when Space News published a report revealing that the Space Force had reopened the SCAR program and was actively reconsidering its path forward. The report included remarks from Colonel Owen Stevens, the director of contracting at the Space Rapid Capabilities Office — the office responsible for overseeing SCAR — who indicated that the Space Force had been engaging with senior acquisition leadership and would be pursuing a new acquisition strategy for the program. On this news, AeroVironment’s stock price fell $43.93 per share, or 17.42%, to close at $208.32 per share on March 2, 2026.
Then, on March 10, 2026, AeroVironment announced its financial results for the third quarter of 2026. Among other items, AeroVironment reported an operating loss of $179.0 million, compared to an operating loss of $3.1 million for the same period in fiscal year 2025 — a deterioration driven in significant part by a $151.3 million goodwill impairment in the Company’s space division following the stop work order on its BADGER systems. AeroVironment further disclosed that the Space Force had terminated the Company’s SCAR contract, requiring AeroVironment to “recompete” for the program. On this news, AeroVironment’s stock price fell $13.84 per share, or 6.24%, to close at $207.73 per share on March 11, 2026.
If you are an AeroVironment investor and would like to learn more about this action, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bergermontague.com or (215) 875-3015, or Caitlin Adorni at cadorni@bergermontague.com or (267) 764-4865.
About Berger Montague
Berger Montague is one of the nation’s preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.
For more information or to discuss your rights, please contact:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bergermontague.com
Caitlin Adorni
Director of Portfolio and Institutional Client Monitoring Services
Berger Montague
(267) 764-4865
cadorni@bergermontague.com
Director of Portfolio and Institutional Client Monitoring Services
A class action has been filed against the company over losses suffered by investors and Berger Montague is currently speaking with investors about their options.
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