Investors who lost money on securities of Maravai LifeSciences Holdings, Inc. (“Maravai” or the “Company”) (NASDAQ: MRVI) purchased between August 7, 2024, and February 24, 2025 (the “Class Period”), can contact Cohen Milstein Sellers & Toll PLLC to learn about a new class action securities lawsuit.
To learn about your legal options, complete the form on this page or contact Partner Molly Bowen at mbowen@cohenmilstein.com.
CASE BACKGROUND: Maravai is a life sciences company that provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. A complaint filed in the U.S. District Court for the Southern District of California alleges that the Company and certain current and former officers made false and misleading statements to investors regarding internal controls over financial reporting, revenue recognition, and goodwill valuation in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Specifically, the lawsuit alleges that throughout the Class Period, Defendants failed to disclose that:
- Maravai lacked adequate internal controls over financial reporting related to revenue recognition;
- As a result, the Company inaccurately recognized revenue on certain transactions during fiscal 2024;
- The Company’s goodwill was overstated; and
- Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On February 25, 2025, Maravai announced that it was postponing its earnings release and delaying the filing of its annual report due to issues related to revenue recognition and a potential non-cash impairment charge. This news caused the Company’s stock price to decline by approximately 21.7%, resulting in significant losses for investors.
NEXT STEPS: If you suffered a significant loss in MRVI shares purchased during the proposed class period and are interested in serving as lead plaintiff in this action, you have until May 5, 2025, to request that the court appoint you as lead plaintiff. You are not required to file a lead plaintiff motion to share in any recovery in this action as a class member.
OUR FIRM: With more than 100 attorneys in eight offices, Cohen Milstein is one of the largest plaintiff-side law firms in the U.S., with more than four decades of experience litigating securities fraud cases. We have recovered billions of dollars for investors, including $1 billion last year as co-lead counsel in In re Wells Fargo & Company Securities Litigation, and are perennially recognized as one of the best securities practice groups in the country by legal publications such as The National Law Journal, Law360, Chambers USA, and The Legal 500. For more information, visit www.cohenmilstein.com.
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CONTACT INFORMATION:
Molly Bowen, Esq.
Cohen Milstein Sellers & Toll PLLC
Washington, D.C. Office
Email: mbowen@cohenmilstein.com
Website: www.cohenmilstein.com