AeroVironment Inc

On August 9, 2021, a former employee filed a class action complaint against AeroVironment in California Superior Court in Los Angeles, California alleging various claims pursuant to the California Labor Code related to wages, meal breaks, overtime, unreimbursed business expenses and other recordkeeping matters. The complaint seeks a jury trial and payment of various alleged unpaid wages, penalties, interest and attorneys’ fees in unspecified amounts. We filed our answer on December 16, 2021. Written and oral discovery are ongoing.

On January 22, 2024, a former employee filed a class action complaint against AeroVironment in the Ventura County Superior Court in California alleging that AeroVironment did not indemnify and reimburse employees for certain tools and equipment purchased by such employees needed to discharge their job duties. The Company is currently evaluating the claims contained in the complaint and intends to mount a vigorous defense.

On January 29, 2024, AeroVironment was served with a California Labor Code Private Attorney General Act of 2004 ("PAGA") notice which was filed with the California Labor and Workforce Development Agency indicating a former employee’s intention to file a class action lawsuit against AeroVironment alleging violations of California wage and hour laws and seeking penalties recoverable under California Labor Code section 2698, et. seq., the PAGA and all other remedies available under PAGA. No complaint has yet been filed against the Company regarding allegations made in the PAGA notice.

We are subject to lawsuits, government investigations, audits and other legal proceedings from time to time in the ordinary course of our business. It is not possible to predict the outcome of any legal proceeding with any certainty. The outcome or costs we incur in connection with a legal proceeding could adversely impact our operating results and financial position.