Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI)

This lawsuit is for anyone who acquired securities in Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) from August 7, 2024 through February 24, 2025.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had effective financial controls but then by having to delay the Company’s annual financial report so that the Company could access taking a non-cash impairment charge to goodwill associated with its previous acquisition of Alphazyme LLC and also separately having to review whether the Company materially overstated revenue.

On February 25, 2025, Maravai disclosed that it is postponing its previously announced earnings release and would be unable to timely file its annual financial report. The Company explained it requires additional time to “complete its assessment of a potential non-cash impairment charge related to goodwill associated with its previous acquisition of Alphazyme LLC,” and to “assess an error . . . that resulted in approximately $3.9 million in revenue being recorded in the final week of the second quarter of 2024 upon shipment when it should have been recorded in the first week of the third quarter of 2024 upon receipt by the customer.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) from August 7, 2024 through February 24, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.