Maravai LifeSciences Holdings, Inc. Faces Investigation Over Revenue Recognition Error and Potential Non-Cash Impairment Charge

Maravai LifeSciences Holdings, Inc. (MRVI) is under investigation by former Louisiana Attorney General Charles C. Foti, Jr. and law firm Kahn Swick & Foti, LLC for potential breaches of fiduciary duties and violations of state or federal laws. The investigation focuses on the Company's officers and directors following a securities class action lawsuit charging them with failing to disclose material information. KSF is seeking information from long-term shareholders and managing partner Lewis Kahn can be reached at 1-833-938-0905 or lewis.kahn@ksfcounsel.com.

Maravai LifeSciences Holdings, Inc. (MRVI) is under investigation by former Louisiana Attorney General Charles C. Foti, Jr. and law firm Kahn Swick & Foti, LLC for potential breaches of fiduciary duties and violations of state or federal laws. The investigation focuses on the Company's officers and directors following a securities class action lawsuit charging them with failing to disclose material information. KSF is seeking information from long-term shareholders, and managing partner Lewis Kahn can be reached at 1-833-938-0905 or lewis.kahn@ksfcounsel.com.

The investigation comes on the heels of a class action complaint filed against Maravai on March 3, 2025, with a Class Period from August 7, 2024, to February 24, 2025. The complaint alleges that Maravai's board of directors made materially false and/or misleading statements and failed to disclose material adverse facts about the company's business, operations, and prospects. Specifically, the complaint alleges that Maravai lacked adequate internal controls over financial reporting related to revenue recognition, inaccurately recognized revenue on certain transactions during fiscal 2024, overstated its goodwill, and made materially misleading statements about the company's prospects.

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 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 also identified a material weakness in its internal controls over revenue recognition and 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.

Following this announcement, Maravai's share price fell $0.87, or 21.70%, to close at $3.14 per share on February 25, 2025, on unusually heavy trading volume. Investors are encouraged to contact Brandon Walker or Marion Passmore at Bragar Eagel & Squire, P.C. by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form to learn more about these claims or to discuss their rights or interests with respect to these matters.

References:
[1] https://www.tradingview.com/news/reuters.com,2025-06-25:newsml_GNXc9Yld6:0-maravai-alert-bragar-eagel-squire-p-c-is-investigating-maravai-lifesciences-holdings-inc-on-behalf-of-long-term-stockholders-and-encourages-investors-to-contact-the-firm/
[2] https://www.globenewswire.com/news-release/2025/06/25/3104766/0/en/Maravai-ALERT-Bragar-Eagel-Squire-P-C-is-Investigating-Maravai-LifeSciences-Holdings-Inc-on-Behalf-of-Long-Term-Stockholders-and-Encourages-Investors-to-Contact-the-Firm.html