Law Offices of Howard G. Smith reminds investors of the upcoming May 5, 2025 deadline to file a lead plaintiff motion in a case involving Maravai LifeSciences Holdings, Inc. (“Maravai” or the “Company”) MRVI securities purchased between August 7, 2024, and February 24, 2025, inclusive (the “Class Period”).

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN MARAVAI LIFESCIENCES HOLDINGS, INC. (MRVI), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

For inquiries regarding your legal rights, you can reach the Law Offices of Howard G. Smith via email at [email protected], by phone at (215) 638-4847, or through our website at www.howardsmithlaw.com.

Details of the Case

On February 25, 2025, prior to the market opening, Maravai disclosed a postponement of its fiscal 2024 earnings release and the filing of its annual report on Form 10-K for the fiscal year ending December 31, 2024. The Company identified a revenue recognition error that inflated revenue by approximately $3.9 million during the second quarter of 2024. This error was due to revenue being recorded upon shipment rather than when the customer received the product. Moreover, the company admitted a “material weakness” in its internal controls surrounding revenue reporting. It also required additional time to assess a potential non-cash impairment charge related to goodwill from its acquisition of Alphazyme LLC.

Following this revelation, Maravai’s share price dropped by $0.87, or 21.70%, closing at $3.14 per share on February 25, 2025, with notably high trading volume.

Nature of the Lawsuit

The complaint in this class action alleges that during the Class Period, Defendants issued materially false and misleading statements and failed to disclose significant adverse facts regarding the Company’s business and prospects. Specifically, it claims that: (1) Maravai lacked adequate internal controls over financial reporting for revenue recognition, (2) consequently, the Company misrecognized revenue during fiscal 2024, (3) the goodwill on its balance sheet was overstated, and (4) the preceding factors rendered the Defendants’ positive statements about Maravai misleading and lacking a reasonable basis.

If you purchased or acquired Maravai securities during the Class Period, you have the right to request the Court to appoint you as lead plaintiff by May 5, 2025, provided you meet specific legal criteria.

Get in Touch to Participate or Learn More:

To find out more about this class action or to ask questions regarding your rights, please reach out to us:

Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: [email protected]
Visit our website at: www.howardsmithlaw.com.

To be part of the class action, no immediate action is required. You can choose to retain your own counsel or simply remain an absent member of the class.

This press release may be classified as Attorney Advertising in certain jurisdictions under applicable law and ethical standards.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250307472616/en/

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com