Philadelphia, Pennsylvania--(Newsfile Corp. - June 10, 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. To learn your rights, CLICK HERE.

The Company, headquartered in Arlington, Va., provides cutting-edge autonomous systems, unmanned aircraft systems (UAS), loitering munitions, and space and directed-energy technologies to the U.S. Department of Defense, allied governments, and commercial clients.

The complaint alleges that, during the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects, and failed to disclose that: (i) the Company understated the likelihood of imminent competition from other vendors for work it performed under the Satellite Communication Augmentation Resource ("SCAR") program, including in connection with the U.S. Space Force's ongoing effort to modernize the Satellite Control Network ("SCN"); (ii) and Defendants accordingly overstated the Company'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 BADGER systems to the SCAR program, while stating it expected to continue operating under the 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.

Then, on March 2, 2026, Space News reported that the U.S. Space Force was reopening and "reassessing" the SCAR program. The Space Rapid Capabilities Office's director of contracting confirmed the Space Force would "move into a new acquisition strategy for SCAR." 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 reported a third-quarter fiscal year 2026 operating loss of $179.0 million - versus a loss of just $3.1 million in the prior-year quarter - reflecting a $151.3 million goodwill impairment in its space division tied to the BADGER stop work order. The Company additionally disclosed that the U.S. Space Force had terminated its SCAR contract, forcing the Company 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.

On March 31, 2026, the U.S. Space Force announced it would diversify its supplier base and transition to commercial, off-the-shelf solutions to modernize the SCN, foregoing any further single-vendor bespoke procurement.

If you are an AeroVironment investor and would like to learn more about this action, CLICK HERE or 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.

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Source: Berger Montague