Breaking News: Maravai LifeSciences Holdings Class Action Lawsuit Filed
New York, NY – March 5, 2025
In a significant development for investors, Bragar Eagel & Squire, P.C., a renowned securities rights law firm, has announced the filing of a class action lawsuit against Maravai LifeSciences Holdings, Inc. (Maravai or the Company) (NASDAQ: MRVI) in the United States District Court for the Southern District of California.
Background
Maravai LifeSciences Holdings, Inc. is a biotechnology company focused on providing contract development and manufacturing services to the pharmaceutical and biotech industries. The Company’s services include process development, clinical and commercial manufacturing, and analytical development.
Class Action Lawsuit Details
The lawsuit alleges that Maravai and certain of its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose material adverse information during the Class Period, which is between August 7, 2024, and February 24, 2025.
The complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that:
- Maravai’s financial statements for the periods ending June 30, 2023, and December 31, 2023, contained material errors;
- Maravai’s internal controls over financial reporting were inadequate;
- Maravai’s revenue growth was due in part to improper revenue recognition;
- Maravai was experiencing higher than anticipated costs and lower than anticipated revenue in its CDMO business;
As a result of this information being made public, Maravai’s stock price dropped significantly.
Impact on Individual Investors
If you purchased or otherwise acquired Maravai securities during the Class Period, you may be entitled to compensation. The lead plaintiff deadline for this lawsuit is May 5, 2025. To learn more, you can contact the law firm at no cost to you.
Impact on the World
The filing of this class action lawsuit against Maravai LifeSciences Holdings, Inc. is a reminder of the importance of accurate financial reporting and internal controls in the biotech industry. The lawsuit may lead to increased scrutiny of other companies in the sector, potentially leading to increased transparency and investor confidence.
Conclusion
Investors who purchased Maravai LifeSciences Holdings, Inc. securities during the Class Period may be entitled to compensation due to alleged false and misleading statements and/or failure to disclose material information. The lead plaintiff deadline for this lawsuit is May 5, 2025. This lawsuit serves as a reminder of the importance of accurate financial reporting and internal controls in the biotech industry, potentially leading to increased transparency and investor confidence.
For more information, please contact Bragar Eagel & Squire, P.C.
