NEW YORK, NY / ACCESSWIRE / February 11, 2024 / Bronstein, Gewirtz & Grossman, LLC a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Mercury Systems, Inc. ("Mercury Systems" or "the Company") (NASDAQ:MRCY) and certain of its officers.
Class Definition:
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Mercury Systems securities between December 7, 2020 and July 23, 2023, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/mrcy.
Case Details:
The complaint alleges that defendants throughout the Class Period made false and/or misleading statement and/or failed to disclose that: (i) Mercury Systems' serial acquirer strategy was not working and Mercury Systems was using improper revenue recognition practices such as changing to long-term contracts to mask deteriorating organic growth; (ii) Mercury Systems' acquisition of POC caused POC to lose its small business accreditation, which prevented POC from winning contracts that made up a large portion of its historical business; (iii) Mercury Systems had at least twenty programs that were suffering and not performing well; and (iv) Mercury Systems' initiative to increase margins was not working and was in fact cutting into margins. The complaint further alleges that on July 26, 2022, Glasshouse Research initiated coverage of Mercury Systems with a strong sell report entitled "Roll-Up Mercury Systems Set to Unravel," and following this news, Mercury Systems common stock dropped roughly 8%.
What's Next?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/mrcy or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Mercury Systems you have until February 12, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
View the original
press release on accesswire.com
