Monday, 17 March 2025 12:45 PM
Class Action
WASHINGTON, DC / ACCESS Newswire / March 17, 2025 / Investors who purchased shares of Maravai LifeSciences Holdings, Inc. ("Maravai" or the "Company") (NASDAQ:MRVI) between August 7, 2024, and February 24, 2025 (the "Class Period") and suffered financial losses may have legal claims. Cohen Milstein Sellers & Toll PLLC encourages affected shareholders to reach out to learn more about a recently filed securities class action lawsuit.
To explore your legal options, click here to connect with a Cohen Milstein team member or contact Partner Molly Bowen at [email protected].
CASE BACKGROUND: Maravai is a life sciences company that develops solutions for drug therapies, diagnostics, and vaccine research. A complaint filed in the U.S. District Court for the Southern District of California alleges that the Company and certain current and former executives misled investors regarding financial reporting, revenue recognition, and goodwill valuation, violating Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
According to the lawsuit, during the Class Period, Defendants failed to disclose that:
Maravai lacked adequate internal controls over financial reporting related to revenue recognition.
As a result, the Company inaccurately recognized revenue on certain transactions in fiscal 2024.
The Company's goodwill was overstated.
Defendants made misleading statements about Maravai's business and financial outlook, lacking a reasonable basis.
On February 25, 2025, Maravai disclosed it was delaying its earnings release and annual report due to revenue recognition issues and a possible non-cash impairment charge. Following this announcement, Maravai's stock price dropped approximately 21.7%, causing significant losses for investors.
NEXT STEPS: Investors who purchased MRVI shares during the Class Period and experienced substantial losses may be eligible to serve as lead plaintiff in this case. The deadline to petition for lead plaintiff status is May 5, 2025. Investors do not need to seek lead plaintiff status to participate in any potential recovery as a class member.
ABOUT COHEN MILSTEIN: Cohen Milstein Sellers & Toll PLLC is a leading plaintiff-side law firm, with over 100 attorneys across eight offices and a decades-long track record of fighting for investors' rights. The firm has recovered billions of dollars on behalf of shareholders, including $1 billion last year as co-lead counsel in In re Wells Fargo & Company Securities Litigation. Cohen Milstein's Securities Litigation practice is consistently recognized among the best in the country by The National Law Journal, Law360, Chambers USA, and The Legal 500.
For more information, visit www.cohenmilstein.com.
Prior results do not guarantee a similar outcome. This may be considered Attorney Advertising.
CONTACT INFORMATION:
Molly Bowen, Esq.
Licensed in DC, Florida, and Ohio
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W., Fifth Floor
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: [email protected]
Website: www.cohenmilstein.com
SOURCE: Cohen Milstein Sellers & Toll PLLC