LEGAL PROCEEDINGS
+Added: On August 30, 2023, a securities class action complaint was filed in the U.S.
+Added: District Court for the Eastern District of Virginia by Jesse Joseph Bissing naming AeroVironment;
+Added: Wahid Nawabi, our President and Chief Executive Officer;
+Added: and Kevin McDonnell, our Senior Vice President and Chief Financial Officer, as defendants.
+Added: See Bissing v.
+Added: AeroVironment, Inc., No.
+Added: 1:23-cv-01160 (E.D.
+Added: The complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder, claiming that the defendants made false and materially misleading statements regarding revenue and earnings guidance issued by the company for our fiscal year 2022.
+Added: The plaintiff seeks to represent a proposed class of all persons who purchased or otherwise acquired our common stock during the period June 29, 2021 through December 7, 2021.
+Added: The complaint seeks a jury trial and unspecified compensatory damages, interest, and attorneys’ fees and other costs.
+Added: As of the date of this filing, we have not been served with the complaint.
On August 9, 2021, a former employee filed a class action complaint against AeroVironment in California Superior Court in Los Angeles, California alleging various claims pursuant to the California Labor Code related to wages, meal breaks, overtime and other recordkeeping matters.
6 unchanged sentences
The outcome or costs we incur in connection with a legal proceeding could adversely impact our operating results and financial position.
+Added: There have been no material changes to the risk factors disclosed under Part I, Item 1A, “Risk Factors,” of our Annual Report on Form 10-K for the fiscal year ended April 30, 2023.
+Added: Please refer to that section for disclosures regarding the risks and uncertainties related to our business.
+Added: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
+Added: DEFAULTS UPON SENIOR SECURITIES
+Added: MINE SAFETY DISCLOSURES
+Added: Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.