Maravai LifeSciences Faces Multiple Class Action Lawsuits for Securities Violations

A class action lawsuit has been filed against Maravai LifeSciences Holdings, Inc., alleging violations of federal securities laws for misleading investors about the company's financial health and internal controls. The lawsuit, initiated by the Law Offices of Frank R. Cruz, follows Maravai's announcement on February 25, 2025, that it would delay its fiscal 2024 earnings release due to a material error in revenue recognition and issues with internal controls. This announcement resulted in a 21.7% decline in Maravai's stock price, closing at $3.14 per share. The complaint claims that throughout the class period, ending February 24, 2025, Maravai failed to disclose significant adverse information affecting its business, leading to materially misleading statements regarding its operations. Other law firms, including Bronstein, Gewirtz & Grossman, LLC, are also seeking investors who experienced losses to join the case. Shareholders are encouraged to register for participation as the lawsuit progresses.