AEVEX Corp. Faces Class Action Over IPO Lock-Up Waiver

The litigation, filed in the U.S. District Court for the Southern District of California, follows a volatile period in June 2026 that saw $900 million in market value evaporate. According to the complaint, AEVEX disclosed a secondary offering of eight million Class A shares just 41 days after its IPO. While initial documentation promised a 180-day lock-up period extending to October 13, 2026, the company subsequently revealed that underwriters had agreed to waive these restrictions.

This revelation triggered two sharp sell-offs: a 16% decline on June 2, 2026, and a further 7% drop on June 5, 2026. The lawsuit claims that the $207.9 million generated from the secondary offering flowed entirely to the company’s controlling private equity stockholder, with the firm itself receiving no proceeds. Joseph E. Levi, representing the plaintiffs, argues that investors were denied critical information regarding the stability of their holdings, as the structural assurance of the lock-up was allegedly undermined by a pre-arranged plan.