BOSTON, March 04, 2025 (GLOBE NEWSWIRE) — Block & Leviton announces that a securities fraud lawsuit has been filed against Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) and certain of its executives. Investors who have lost money in their Maravai LifeSciences Holdings, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/mrvi.
What is this all about?
On February 25, 2025, before the market opened, Maravai announced it was postponing its fiscal 2024 earnings release and would delay filing its annual report on Form 10-K for the fiscal year ended December 31, 2024. The Company had identified 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 had identified “a material weakness in its internal controls over revenue recognition.” Maravai also required additional time to “complete its assessment of a …
