AeroVironment (AVAV) said Tuesday that the US Government Accountability Office has rejected a protest filed in September that challenged the US Army's award of a $990 million contract for AeroVironment's Switchblade systems.
The decision "reaffirms confidence in the integrity of the Army's procurement process and its thorough evaluation of operational requirements," the company said.
AeroVironment shares were falling 2.7% in recent trading.
Price: 164.21, Change: -4.59, Percent Change: -2.72
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