Wednesday, 19 March 2025 05:00 PM
Class Action
WASHINGTON, DC / ACCESS Newswire / March 19, 2025 / Cohen Milstein Sellers & Toll PLLC advises 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 losses to contact the firm regarding a pending securities class action lawsuit.
To discuss 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 biotechnology company that provides specialized products supporting drug development, 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 senior executives made false and misleading statements about its financial controls, revenue recognition policies, and goodwill valuation, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
The lawsuit alleges that, throughout the Class Period, Defendants failed to disclose that:
Maravai lacked effective internal controls over financial reporting, particularly in revenue recognition.
The Company improperly recorded revenue from certain transactions in fiscal 2024.
Maravai's goodwill valuation was overstated, misleading investors about its financial health.
Defendants misrepresented the Company's financial condition and growth prospects, creating an inflated perception of stability.
On February 25, 2025, Maravai announced a delay in its earnings release and annual report due to revenue recognition concerns and a potential non-cash impairment charge. Following this disclosure, the Company's stock price fell approximately 21.7%, causing significant losses for investors.
NEXT STEPS:
Investors who purchased MRVI shares during the Class Period and suffered substantial losses may be eligible to serve as lead plaintiff in this case. The deadline to file for lead plaintiff status is May 5, 2025. Investors are not required to serve as lead plaintiff to participate in any potential recovery.
ABOUT COHEN MILSTEIN:
Cohen Milstein Sellers & Toll PLLC is a national leader in securities litigation, with more than 100 attorneys across eight offices and a strong track record of fighting for investors. 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 is consistently recognized as one of the nation's top securities litigation firms by The National Law Journal, Law360, Chambers USA, and The Legal 500.
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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
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SOURCE: Cohen Milstein Sellers & Toll PLLC