Maravai LifeSciences(US:MRVI) Globenewswireยท2025-10-29 11:52Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against Maravai LifeSciences Holdings, Inc. due to a class action complaint alleging breaches of fiduciary duties by the company's board of directors during a specified class period [2][8]. Group 1: Company Overview - Maravai LifeSciences Holdings, Inc. is facing legal scrutiny following a class action complaint filed on March 3, 2025, concerning events from August 7, 2024, to February 24, 2025 [2]. - The company announced a postponement of its fiscal 2024 earnings release and a delay in filing its annual report due to an error in revenue recognition, which resulted in approximately $3.9 million being incorrectly recorded [8]. Group 2: Financial Impact - Following the announcement of the revenue recognition error, Maravai's share price fell by $0.87, or 21.70%, closing at $3.14 per share on February 25, 2025, amid unusually heavy trading volume [8]. - The class action complaint alleges that the company made materially false and misleading statements regarding its financial health, including inadequate internal controls over financial reporting and overstated goodwill [8]. Group 3: Legal Actions - Investors who purchased Maravai stock during the specified class period are encouraged to contact Bragar Eagel & Squire for discussions regarding their legal rights and options [1][4]. - The law firm emphasizes that there is no cost or obligation for investors to inquire about these claims [4].