Philadelphia, Pennsylvania--(Newsfile Corp. - April 12, 2024) - If you have held Mercury Systems, Inc. (NASDAQ: MRCY) shares since prior to December 7, 2020, click here:https://grabarlaw.com/the-latest/mercury-systems-shareholder-investigation/. You can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever.
Grabar Law Office is investigating claims on behalf of Mercury Systems shareholders. The investigation concerns whether certain officers and directors of Mercury Systems have breached their fiduciary duties owed to the company.
Why: A recently filed securities fraud class action complaint alleges that Mercury Systems, through certain of its officers and directors, used acquisitions and improper revenue recognition practices to mask its inability to grow organically. The complaint further alleges that Defendants repeatedly misled investors to believe that their growth was organic by misrepresenting several elements of Mercury's business, including by hiding that Mercury had switched from "point-in-time" to "long-term contracts" in order to improperly boost reported revenues and that several of Mercury's projects were in significant distress, including projects related to Mercury's acquisition of Physical Optics Corporation. Finally, the Complaint alleges Mercury also lied to investors about its strategic growth initiative, 1MPACT, which was designed to improve profit margins but unbeknownst to investors was used to disguise regular expenses as restructuring costs, enabling Mercury to claim that recurring expenses were one-time costs.
What to do now: If you have held Mercury Systems shares since prior to December 7, 2020, and would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/mercury-systems-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205280
