AEVEX Corp. NYSE: AVEX

A class action lawsuit was filed on behalf of purchasers of AEVEX Corp. (NYSE: AVEX) Class A common stock during the period from April 17, 2026 to June 4, 2026 (the "Class Period").

AEVEX is a military technology contractor that designs and manufactures unmanned aerial and surface vehicles, and provides AI-enabled intelligence, surveillance, and reconnaissance services. Madison Dearborn Partners, LLC ("Madison"), a private equity firm, acquired a majority stake in AEVEX in 2020 and owned 100% of AEVEX's common stock by the time of its April 2026 IPO. In the IPO offering documents, Madison represented it would not sell any Class A common stock and would be subject to a 180-day lock-up running until October 13, 2026.

The complaint alleges that, in the offering documents and throughout the Class Period, defendants made materially false and misleading statements, and failed to disclose that a pre-arranged plan existed between Madison and certain defendants to conduct a secondary public offering shortly after the IPO, despite the representation of a 180-day lock-up.

Just over a month after the IPO, on June 1, 2026, defendants filed a registration statement announcing AEVEX's intention to sell eight million additional shares of Class A common stock via a secondary public offering. On or about June 3, 2026, the offering documents revealed that certain defendants had agreed to waive the lock-up restrictions, allowing the sale of more than two million shares from Madison's holdings. The remaining shares were newly issued, with AEVEX using the proceeds to repurchase an equivalent number of Madison's other AEVEX holdings — meaning the entire $207.9 million in proceeds went to Madison while AEVEX itself received nothing from the offering.

On this news, AEVEX's Class A common stock fell approximately 16% on June 2, 2026, and continued falling, dropping a further 7% on June 5, 2026.