AeroVironment Investigated for Securities Fraud by Block & Leviton LLP
17 May, 2018, 11:53 ET
BOSTON, May 17, 2018 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether AeroVironment, Inc. ("AVAV" or the "Company") (NASDAQ: AVAV) and certain of its officers and directors breached their fiduciary duties and/or violated the federal securities laws.
A lawsuit has been filed by AVAV's former chief of top-secret government programs, Mark Anderson, alleging AVAV staffers transported live bombs on a commercial Delta Airlines flight in 2015. In addition, the complaint alleges that AVAV's CEO, Wahid Nawabi, pressured employees to mislead the government about ongoing security violations and mishandling of top-secret information and to partake in coverup efforts. A report by Aurelius Value suggests that Nawabi told investors that the Company's safety systems and processes were robust, while during the same month, the Company initiated an undisclosed internal investigation into security failures. According to Aurelius's analysis, since the alleged coverup began, AVAV's Chairman, Timothy Conver has sold over $17 million worth of stock held by himself and his family trust.
If you purchased or otherwise acquired AVAV securities and have questions about your legal rights or possess information relevant to this investigation, you are encouraged to contact Attorney John DeFelice at (888) 868-2385, by email at [email protected] or by visiting http://shareholder.law/aero.
Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 50 years and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing were recently covered by the New York Times.
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