PR Newswire
Executive Accountability: Mary Clum Named as Defendant in AeroVironment Securities Action for Allegedly Misrepresenting SCAR Program Readiness While the Space Force Was Reassessing Its Acquisition Strategy
NEW YORK,, June 3, 2026 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors that Mary Clum, President of AeroVironment, Inc.’s (NASDAQ: AVAV) Space, Cyber & Directed Energy business segment, is named as a defendant in a securities class action filed on behalf of shareholders who purchased AVAV securities between June 25, 2025 and March 10, 2026. Find out if you qualify to recover losses from the AVAV securities action. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
AVAV shares fell from a pre-drop price of $392.86 to $207.73 over the course of three corrective disclosures. The lead plaintiff deadline is July 27, 2026.
Mary Clum’s Role During the Class Period
The complaint identifies Clum as President of AeroVironment’s Space, Cyber & Directed Energy segment from October 2025 through the end of the Class Period. Before that, Clum served as President of BlueHalo’s Product and Space Systems portfolio, the business unit that originally secured the $1.4 billion SCAR contract (later increased to $1.7 billion) prior to AeroVironment’s $4.1 billion acquisition of BlueHalo.
Clum’s position gave her direct operational oversight of the BADGER phased array antenna systems at the center of the SCAR program, the lawsuit contends.
What Mary Clum Allegedly Told Investors
At the September 30, 2025 Investor Open House, Clum made specific public representations about the SCAR program’s trajectory, as alleged in the complaint:
- Stated that AeroVironment’s team was working “shoulder to shoulder” with the U.S. Space Force customer
- Described SCAR as having an “awarded value of $1.7 billion, extending all the way through 2030”
- Characterized the SCAR contract as occupying “a very high barrier to entry market”
- Told investors the customer was “asking for more” BADGER systems
- Declared that AeroVironment was “ready to scale” and “ready to build more”
- Reported that manufacturing was “underway” with “first deliveries this year”
Within four months of these statements, the U.S. Space Force issued a stop work order. Within six months, the contract was terminated for convenience and the Space Force announced it would diversify suppliers and pursue commercial off-the-shelf alternatives.
Section 20(a) Context for Mary Clum
The action asserts that Clum, as a senior officer of the Company, possessed the power and authority to control the contents of AeroVironment’s public communications regarding the SCAR program. As named in the complaint, Clum had access to material nonpublic information about the Space Force’s reassessment of its single-vendor acquisition strategy. The complaint charges that her public assurances of program momentum were materially misleading given what was known internally about emerging competitive risks.
“Individual officers who sign SEC certifications bear personal responsibility for the accuracy of corporate disclosures. When segment leaders make specific representations about contract status and customer demand, investors are entitled to rely on those statements reflecting the actual state of affairs,” stated Joseph E. Levi, Esq.
Speak with an attorney about whether you can recover AVAV investment losses or call (212) 363-7500.
LEAD PLAINTIFF DEADLINE: July 27, 2026
ABOUT LEVI & KORSINSKY, LLP
Levi & Korsinsky, LLP, Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered for investors.
Frequently Asked Questions About the AVAV Lawsuit
Q: Who are the defendants named in the AVAV lawsuit?A: The complaint names AeroVironment, Inc. and individual defendants including CEO Wahid Nawabi, CFO Kevin P. McDonnell, and Mary Clum, President of the Space, Cyber & Directed Energy segment, who signed SEC filings, made public statements, or had direct oversight of the SCAR program operations at issue.
Q: What is the AVAV class action lawsuit about?A: A securities class action has been filed against AeroVironment alleging materially false and misleading statements between June 25, 2025 and March 10, 2026. Shares fell approximately 47% after corrective disclosures revealed the U.S. Space Force was terminating the Company’s $1.7 billion SCAR contract and shifting to a multi-vendor acquisition strategy.
Q: What if I already sold my AVAV shares — can I still recover losses?A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the class period and sold at a loss may still participate.
Q: What does it cost me to participate?A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What do AVAV investors need to do right now?A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as a class member.
Q: How long will the lawsuit take to resolve?A: Securities class actions typically take two to four years from initial filing to resolution.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP
