Press release
Investors who lost money with shares of Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) should contact the Shareholders Foundation in connection with Lawsuit
A lawsuit was filed on behalf of investors in Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) shares.
Investors who purchased shares of Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) have certain options and for certain investors are short and strict deadlines running. Deadline: May 5, 2025. NASDAQ: MRVI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
San Diego, CA based Maravai LifeSciences Holdings, Inc., a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide.
On February 25, 2025, before the market opened, Maravai LifeSciences Holdings, Inc. announced it was postponing its fiscal 2024 earnings release and would delay filing its annual report on Form 10-K for the fiscal year ended December 31, 2024. The Company had identified an error in revenue recognition that "resulted in approximately $3.9 million in revenue being recorded in the final week of the second quarter of 2024 upon shipment when it should have been recorded in the first week of the third quarter of 2024 upon receipt by the customer." The Company had identified "a material weakness in its internal controls over revenue recognition." Maravai also required additional time to "complete its assessment of a potential non-cash impairment charge related to goodwill associated with its previous acquisition of Alphazyme LLC."
Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) declined from $11.55 per share on May 17, 2024, to as low as $2.80 per share on March 04, 2025.
The plaintiff claims that between August 7, 2024 and February 24, 2025, the Defendants failed to disclose to investors that Maravai LifeSciences Holdings lacked adequate internal controls over financial reporting related to revenue recognition, that as a result, the Company inaccurately recognized revenue on certain transactions during fiscal 2024, that its goodwill was overstated, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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