The complaint filed by the Law Offices of Frank R. Cruz contends that Aevex Corp. and its underwriters misled shareholders by concealing a pre-arranged plan to bypass the 180-day lock-up period following the company's initial public offering. According to the filing, this maneuver allowed Madison to divest a substantial portion of its holdings during a secondary offering, with the entirety of the proceeds flowing to the firm rather than the company.

Legal counsel argues these actions rendered public statements regarding the company's business prospects materially false or lacking a reasonable basis. Investors who held stock during the period in question are not required to take immediate action to remain part of the class, though those seeking to serve as lead plaintiffs must contact the firm before the October 20, 2026, deadline.