AeroVironment Inc. and three executives were hit with a proposed class action alleging they misled shareholders about the company’s prospects for a major defense contract.
Company officials made false statements about the US Space Force’s Satellite Communication Augmentation Resource program—intended to modernize antennas used by the Satellite Control Network—while knowing the contract faced significant risks, according to the lawsuit filed Tuesday in the US District Court for the Eastern District of Virginia.
The plaintiff brought the suit on behalf of a proposed class of investors who bought AeroVironment stock from June 25, 2025, through March 10, 2026.
AeroVironment executives repeatedly ...
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