Maravai LifeSciences Holdings Inc. board members and executives misled investors about its accounting abilities before finding an error in revenue recognition and delaying a report while it assessed a goodwill impairment charge, a shareholder lawsuit said.
Share prices fell almost 22% to close at $3.14 on Feb. 25, the day the biotechnology holding company said it had to postpone releasing 2024 financial results after it recorded $3.9 million in revenue in the last week of the second quarter that should’ve been marked in the first week of the third quarter of that year, the complaint filed in the US District ...
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