The legal action, initiated by the firm Levi & Korsinsky, centers on public statements made by Clum during an Investor Open House on September 30, 2025. At the time, Clum asserted that the company was working closely with the U.S. Space Force and was prepared to scale production of the BADGER phased array antenna systems. However, within months of these assurances, the Space Force issued a stop-work order and ultimately terminated the contract, opting to diversify its supplier base.
In section Releases
AeroVironment Executive Named in Securities Lawsuit Over SCAR Contract
Mary Clum, President of AeroVironment’s Space, Cyber & Directed Energy segment, faces a securities class action lawsuit for allegedly misrepresenting the readiness of the company’s $1.7 billion SCAR program. Investors who purchased shares between June 25, 2025, and March 10, 2026, have until July 27, 2026, to seek lead plaintiff status.
Before the disclosures forced the stock price to drop from $392.86 to $207.73, Clum oversaw the program as a senior officer with access to internal updates regarding the Space Force’s shifting acquisition strategy. The complaint alleges that her public declarations of program momentum were materially misleading, given the internal risks facing the project. In addition to Clum, the suit names CEO Wahid Nawabi and CFO Kevin P. McDonnell as defendants. Investors seeking to participate in the litigation are not required to pay upfront fees, as the case is handled on a contingency basis.
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