LEGAL PROCEEDINGS
−Removed: On August 30, 2023, a securities class action complaint was filed in the U.S.
−Removed: District Court for the Eastern District of Virginia by Jesse Joseph Bissing naming AeroVironment;
−Removed: Wahid Nawabi, our President and Chief Executive Officer;
−Removed: and Kevin McDonnell, our Senior Vice President and Chief Financial Officer, as defendants.
−Removed: See Bissing v.
−Removed: AeroVironment, Inc., No.
−Removed: 1:23-cv-01160 (E.D.
−Removed: On November 1, 2023, the plaintiff filed a notice to voluntarily dismiss the action in its entirety, without prejudice, against all defendants.
−Removed: The court ordered the dismissal on November 3, 2023.
−Removed: The complaint asserted 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.
−Removed: The plaintiff sought 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.
−Removed: 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.
+Added: 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, unreimbursed business expenses and other recordkeeping matters.
The complaint seeks a jury trial and payment of various alleged unpaid wages, penalties, interest and attorneys’ fees in unspecified amounts.
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Written and oral discovery are ongoing.
+Added: On January 22, 2024, a former employee filed a class action complaint against AeroVironment in the Ventura County Superior Court in California alleging that AeroVironment did not indemnify and reimburse employees for certain tools and equipment purchased by such employees needed to discharge their job duties.
+Added: The Company is currently evaluating the claims contained in the complaint and intends to mount a vigorous defense.
+Added: On January 29, 2024, AeroVironment was served with a California Labor Code Private Attorney General Act of 2004 ("PAGA") notice which was filed with the California Labor and Workforce Development Agency indicating a former employee’s intention to file a class action lawsuit against AeroVironment alleging violations of California wage and hour laws and seeking penalties recoverable under California Labor Code section 2698, et.
+Added: seq., the PAGA and all other remedies available under PAGA.
+Added: No complaint has yet been filed against the Company regarding allegations made in the PAGA notice.
We are subject to lawsuits, government investigations, audits and other legal proceedings from time to time in the ordinary course of our business.
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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.