Faruqi & Faruqi Reminds Maravai LifeSciences Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of May 5, 2025 - MRVI

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Maravai LifeSciences Holdings, Inc. due to allegations of violations of federal securities laws related to financial reporting and revenue recognition [2][4]. Group 1: Allegations and Financial Reporting Issues - The complaint alleges that Maravai lacked adequate internal controls over financial reporting, leading to inaccurate revenue recognition during fiscal 2024 [4]. - An identified error resulted in approximately $3.9 million in revenue being incorrectly recorded, affecting the company's financial statements [5]. - The company also indicated a material weakness in its internal controls over revenue recognition and is assessing a potential non-cash impairment charge related to goodwill from its acquisition of Alphazyme LLC [5]. Group 2: Market Reaction - Following the announcement of the financial reporting issues, Maravai's share price fell by$0.87, or 21.70%, closing at $3.14 per share on February 25, 2025, with unusually heavy trading volume [6]. Group 3: Legal Proceedings - Investors who suffered losses exceeding$50,000 between August 7, 2024, and February 24, 2025, are encouraged to contact Faruqi & Faruqi to discuss their legal rights and options [1]. - There is a deadline of May 5, 2025, for investors to seek the role of lead plaintiff in the federal securities class action against Maravai [2][7].