Saxena White P.A. is pleased to announce that on August 24, 2026, the U.S. District Court for the Eastern District of Virginia appointed the City of Miami Fire Fighters’ and Police Officers’ Retirement Trust and the City Pension Fund for Firefighters and Police Officers in the City of Miami Beach as Lead Plaintiff and Saxena White P.A. as Co-Lead Counsel in the securities class action against AeroVironment, Inc. and certain of its officers and executives.

In 2025, AeroVironment acquired BlueHalo, LLC, another defense technology provider, in an all-stock transaction worth $4.1 billion. One of BlueHalo’s key value drivers was its role in the U.S. Department of Defense’s (“DoD”) Satellite Communications Augmentation Resource (“SCAR”) program. The action alleges that Defendants misled investors about AeroVironment’s major contract to develop military satellite command and control stations known as Broad Area Deployable Ground Terminal Enabling Resilient Communications (“BADGERs”). Specifically, Defendants touted the SCAR program and the Company’s production of BADGERs as central to AeroVironment’s growth. However, Defendants failed to disclose: (i) AeroVironment’s agreement with the DoD to produce BADGERs for the SCAR program was not secure; (ii) the Company faced a significant threat of competition from other vendors for the same work; and (iii) there was a material risk that AeroVironment would not continue delivering products for SCAR, or would do so only on a significantly reduced basis. These misrepresentations caused investors to purchase AeroVironment securities at artificially inflated prices, resulting in losses when the truth emerged.