Maravai LifeSciences(MRVI) Prnewswire·2025-03-12 01:15Core Viewpoint - A securities class action lawsuit has been filed against Maravai LifeSciences Holdings, Inc. for allegedly making materially false and misleading statements regarding its business operations and financial reporting during the Class Period from August 7, 2024, to February 24, 2025 [1] Allegations of Misconduct - The complaint alleges that Maravai lacked adequate internal controls over financial reporting related to revenue recognition [2] - It is claimed that Maravai inaccurately recognized revenue on certain transactions during fiscal 2024 [2] - The lawsuit states that Maravai's goodwill was overstated [2] - As a result of these issues, the positive statements made by the defendants about the company's business and prospects were materially misleading [2] Lead Plaintiff Process - Investors in Maravai have until May 5, 2025, to seek appointment as a lead plaintiff representative of the class [3] - A lead plaintiff acts on behalf of all class members and is typically the investor or group of investors with the largest financial interest [3] - The lead plaintiff selects counsel to represent the class, and participation as a lead plaintiff does not affect the ability to share in any recovery [3] Firm Background - Kessler Topaz Meltzer & Check, LLP has a reputation for prosecuting class actions and has recovered billions for victims of corporate misconduct [4] - The firm aims to protect investors and others from fraud and negligence by businesses [4]