Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Skyworks Solutions, Maravai, AppLovin, and Manhattan Associates and Encourages Investors to Contact the Firm

By: Bragar Eagel & Squire via GlobeNewswire

March 25, 2025 at 21:00 PM EDT

NEW YORK, March 25, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Skyworks Solutions, Inc. (NASDAQ: SWKS), Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI), AppLovin Corporation (NASDAQ: APP), and Manhattan Associates, Inc. (NASDAQ: MANH). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Skyworks Solutions, Inc. (NASDAQ: SWKS)

Class Period: July 30, 2024 - February 5, 2025

Lead Plaintiff Deadline: May 5, 2025

According to the complaint, defendants provided investors with material information concerning Skyworks’ expected revenue for the fiscal year 2025. Defendants’ statements included, among other things, confidence in Skyworks’ ability to expand its mobile business and capitalize on its growth potential by investing in new technologies to diversify its portfolio of offerings.

On February 5, 2025, after market close, Skyworks announced its financial results for the first quarter of fiscal year 2025 and provided lower-than anticipated revenue guidance for the second quarter of fiscal year 2025. The Company attributed its results and low guidance to a “competitive landscape” that had “intensified” in recent years. Following this news, the price of Skyworks’ common stock declined dramatically. From a closing market price of $87.08 per share on February 5, 2025, Skyworks’ stock price fell to $65.60 per share on February 6, 2025, a decline of over 24% in the span of just a single day.

For more information on the Skyworks class action go to: https://bespc.com/cases/SWKS

Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI)

Class Period: August 7, 2024 - February 24, 2025

Lead Plaintiff Deadline: May 5, 2025

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 potential non-cash impairment charge related to goodwill associated with its previous acquisition of Alphazyme LLC.”

On this news, the Company’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.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Maravai lacked adequate internal controls over financial reporting related to revenue recognition; (2) as a result, the Company inaccurately recognized revenue on certain transactions during fiscal 2024; (3) its goodwill was overstated; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

For more information on the Maravai class action go to: https://bespc.com/cases/MRVI

AppLovin Corporation (NASDAQ: APP)

Class Period: May 10, 2023 - February 25, 2025

Lead Plaintiff Deadline: May 5, 2025

The AppLovin class action lawsuit alleges that defendants throughout the Class Period created the false impression that AppLovin’s enhanced AXON 2.0 digital ad platform, in addition to its “cutting-edge AI technologies,” would more efficiently match advertisements to mobile games, in addition to expanding into web-based marketing and e-commerce. In truth, AppLovin was exploiting advertising data from Meta Platforms and using manipulative practices that forced unwanted apps on customers via a “backdoor installation scheme” which inaccurately inflated installation numbers, and, in turn, its profit figures, the complaint alleges.

The AppLovin class action lawsuit further alleges that on February 26, 2025, analyst research reports emerged stating that AppLovin was reverse engineering and exploiting advertising data from Meta Platforms. The reports further alleged AppLovin was utilizing manipulative practices to artificially inflate their own ad click-through and app download rates, such as by having ads click on themselves or utilizing design gimmicks to trigger forced shadow downloads, erroneously inflating installation numbers and, in turn, its profit figures, the complaint alleges. On this news, the price of AppLovin shares fell by more than 12%, the AppLovin class action lawsuit alleges.

For more information on the AppLovin class action go to: https://bespc.com/cases/APP

Manhattan Associates, Inc. (NASDAQ: MANH)

Class Period: October 22, 2024 - January 28, 2025

Lead Plaintiff Deadline: April 28, 2025

The Complaint alleges that throughout the Class Period, Defendants provided investors with material information concerning Manhattan Associates' expected revenue for the fiscal year 2025. Specifically, the Complaint alleges that Defendants' statements included, among other things, confidence in the Company's ability to forecast guidance despite macroeconomic fluctuations, the growth potential of their professional services offerings, and the ability for their cloud revenue to drive revenue for its professional services.

On January 28, 2025, Manhattan Associates issued a press release reporting its financial results for the fourth quarter and full year 2024. Among other items, the Company disclosed services revenue of $119.5 million for the quarter, growing by only 0.3% compared to the year-ago quarter and falling approximately $2 million short of the guidance provided in October 2024. Manhattan Associates attributed the results to delays in professional services work and deferred deals, predicting that the Company's services revenue would reach a low point in the first quarter of 2025 and that solid revenue growth would not resume until mid-year. Manhattan Associates further revealed emerging challenges in its services business, noting that around 10% of customers with ongoing implementations had scaled back their planned services work for the upcoming calendar and fiscal year. The Company also announced that its 2025 revenues would see modest growth of just 2% to 3%, while GAAP EPS was expected to decline by 10% to 13%. On this news, Manhattan Associates' stock price fell $72.26 per share, or 24.49%, to close at $222.84 per share on January 29, 2025. Then, on February 10, 2025, Manhattan Associates announced that Eddie Capel, Manhattan's President and Chief Executive Officer, would retire from those positions effective February 12, 2025. On this news, Manhattan Associates' stock price fell $23.20 per share, or 11.55%, to close at $177.70 per share on February 10, 2025.

For more information on the Manhattan Associates class action go to: https://bespc.com/cases/MANH

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com