MARAVAI LIFESCIENCES INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Maravai LifeSciences Holdings, Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ('KSF'), announces that KSF has commenced an investigation into Maravai LifeSciences Holdings, Inc. (NasdaqGS: MRVI).
On February 25, 2025, the Company disclosed that it would delay filing its annual report on Form 10-K for the fiscal year ended December 31, 2024 and fiscal 2024 earnings release due to an error in revenue recognition 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.' The Company also required additional time to 'complete its assessment of a potential non-cash impairment charge related to goodwill associated with its previous acquisition of Alphazyme LLC.'
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information in violation of federal securities laws, which remains ongoing.
KSF's investigation is focusing on whether Maravai's officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Maravai shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-mrvi/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
4 hours ago
- Miami Herald
McCormick CEO warns about harsh decision amid tariff threats
Imagine cooking a meal without seasonings and forcing yourself to eat plain foods to survive because purchasing condiments has become too expensive. Not only would this rob us of the enjoyment of eating, but it would also prevent us from trying new flavors from other cultures. Don't miss the move: Subscribe to TheStreet's free daily newsletter After taking office for a second term, President Donald Trump implemented new tariffs on foreign-made imports in April, including an additional 10% baseline tariff. This has resulted in ongoing negotiations between foreign countries and the U.S., temporarily pausing increased tariffs on imported goods. Related: When you'll see empty retail store shelves due to tariffs However, the clock is ticking, and the 90-day suspension of baseline tariffs expires on July 9. Although some countries have reached agreements, others have yet to come to a mutual understanding. This threatens the supply chain of many products, which may lead to price increases. Companies have been strategizing and reorganizing their businesses, hoping to soften or prevent the potential blow tariffs might have on their finances. However, many remain concerned about negative financial repercussions, especially in sectors highly dependent on imported goods. Related: This might deliver the economy news people want to hear McCormick & Company (MKC) is a leading manufacturer, marketer, and distributor of spices, seasoning mixes, condiments, and extracts worldwide. After 136 years in business, the company has grown a portfolio of around 17,000 materials from over 90 countries. Although an American company, McCormick depends on foreign goods. Many of its products are not commercially available in the U.S. due to factors such as geographic location and climate. The new tariffs have hit the decades-old business like a train, leading McCormick to reveal plans that American consumers had been dreading. McCormick said it will raise prices during the fourth fiscal quarter of 2025, as the costs of certain products will be higher than expected. "Our total gross annualized tariff exposure is approximately $90,000,000 and in terms of 2025 in year exposure, it's about $50,000,000," said McCormick CEO Brendan Foley in the company's latest earnings call. More Retail News: Popular grocery store chain resumes store openings after 3-year hiatusHershey adds new products to move beyond chocolateBankrupt retail chain makes major comeback, reopens new stores However, the company will continue to look for lower-cost sourcing alternatives to keep up with demand and mitigate the tariff effects. McCormick understands that price hikes could decrease sales, as it would prompt consumers to seek cheaper options. "We are collaborating with our customers to implement surgical and strategic pricing, while also maintaining our volume momentum," said Foley. "Overall, our manufacturing location strategy, resilient supply chain, global sourcing capabilities, collaborative efforts across the organization and the strength of our brands continue to be a competitive advantage, enabling us to mitigate our costs and maintain our business momentum." Although McCormick has focused on decreasing its reliance on any one geographic area, Foley still warned that many products cannot be substituted because they aren't produced or available in the U.S. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
a day ago
- Miami Herald
HBCU experiences record-breaking application surge
Edward Waters University, the first Historically Black College or University (HBCU) established in Florida, has officially broken its all-time record for student applications. The Jacksonville-based HBCU has received nearly 11,500 applications for the Fall 2025 term-more than at any other time in its 158-year history. Steady Growth in Interest and Enrollment Compared to this time last year, applications are up by 6.2%. Additionally, the university has seen a 17.6% increase in enrollment deposits from new students. These numbers show strong momentum and clear intent to enroll. More importantly, they reflect Edward Waters' growing reputation not just among HBCUs, but across the national higher education landscape. Factors Behind the Surge Several key factors are driving this growth. Innovative academic programs, strategic outreach, and effective institutional leadership all contribute to Edward Waters' upward trajectory. The university has become a competitive destination in the HBCU space, offering both undergraduate degrees and an expanding selection of graduate programs. Leadership Celebrates Milestone "This historic milestone speaks volumes about the growing momentum, relevance, and reputation of Edward Waters University across the state, nation, and globe," said Dr. A. Zachary Faison, Jr., President and CEO of Edward Waters University. "We are thrilled to see this record level of interest and are committed to building on this foundation by continuing to provide an accessible, rigorous, and mission-driven education to all students who choose to join us." Graduate Programs Signal Strategic Growth The university's expansion into graduate-level education marks a significant step forward. This move aligns with a broader trend among HBCUs to serve a more diverse and advanced student population. By broadening its academic offerings, Edward Waters is opening doors for students seeking both career-focused and research-driven degrees. Dr. Jennifer Price, Vice President of Enrollment Management and Strategic Matriculant Services, credited the university's success to the enrollment team. "This is more than just a numbers game-it's about the work we've put in to tell the Edward Waters story," she said. "Our team has worked strategically and collaboratively to ensure we are attracting and enrolling students who are ready to thrive, persist, and graduate. We're incredibly excited about what this means for the future of our institution." Looking Ahead to Fall 2025 Registration for the Fall 2025 semester is still open. Classes will begin on August 4, with regular registration ending August 15. As Edward Waters prepares to welcome a new class, it remains committed to its mission of delivering high-quality, values-based education within the HBCU tradition. The post HBCU experiences record-breaking application surge appeared first on HBCU Gameday. Copyright HBCU Gameday 2012-2025
Business Wire
a day ago
- Business Wire
Rocket Lab Completes Record Launch Turnaround From Launch Complex 1, Successfully Deploys 68 th Electron Mission
MAHIA, New Zealand--(BUSINESS WIRE)--Rocket Lab Corporation (Nasdaq: RKLB) ('Rocket Lab' or 'the Company'), a global leader in launch services and space systems, today successfully launched its 68th Electron rocket to deploy a single satellite to space for a confidential commercial customer. The mission was the second of two launches from the same launch site in less than 48 hours, a new launch record for the Company as it continues to deliver dedicated, repeatable and reliable access to space for satellite operators. The 'Symphony In The Stars' mission lifted-off from Rocket Lab Launch Complex 1 in Mahia, New Zealand on June 28 th (7:08 p.m./07:08 UTC) to deploy a single spacecraft to a 650km circular Earth orbit. The mission was the first of two dedicated launches for the new customer on Electron booked less than four months ago, with a second mission scheduled before the end of 2025. Rocket Lab has now completed four launches in June for commercial satellite constellation operators, underscoring Electron's consistent performance and rapid deployment capabilities as the world's leading small launcher: the 'Full Stream Ahead' mission on June 3 rd; 'The Mountain God Guards' mission on June 11 th; 'Get The Hawk Outta Here' launched on June 26 th UTC, and today's 'Symphony In The Stars' mission. Rocket Lab Founder and CEO, Sir Peter Beck, says: 'Electron has demonstrated once again that it is the gold standard for responsive and reliable space access for small satellites. The future of space is built on proven performance, and Electron continues to deliver against a stacked launch manifest this year. Congratulations to the team on achieving its fastest launch turnaround yet between two missions from Launch Complex 1. This launch was also a quick-turn mission to meet our customer's mission requirements, and we're looking forward to doing it again later this year.' 'Symphony In The Stars' was Rocket Lab's tenth Electron mission of 2025 and its 68th launch overall. With 100% mission success so far this year, Electron continues to deliver reliable deployment amid an increasing launch cadence and rapid contract-to-launch timelines. Launch images: About Rocket Lab Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions that make it faster, easier, and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle, a family of spacecraft platforms, and the Company is developing the large Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Rocket Lab's Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered over 200 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab's spacecraft platforms have been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third launch pad in Virginia. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the 'Securities Act') and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion and business strategy are forward-looking statements. The words 'believe,' 'may,' 'will,' 'estimate,' 'potential,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'strategy,' 'future,' 'could,' 'would,' 'project,' 'plan,' 'target,' and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the 'SEC'), accessible on the SEC's website at and the Investor Relations section of our website at which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
