Maravai Leaders Free of Oversight Case After Class Suit Fizzles

A Maravai LifeSciences Holdings Inc. investor dropped his suit against a dozen board members and executives following a federal court’s recent dismissal of a similar class action over revenue accounting issues.

The case is closed but the investor won’t be blocked from filing another derivative suit on behalf of the the biotech company, the US District Court for the Southern District of California said Wednesday. Judge Andrew G. Schopler oversaw both actions.

• John Mercer alleged the leaders misled investors about Maravai’s accounting abilities before finding an error in revenue recognition and delaying a report while the company assessed a goodwill ...