SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Mercury Systems, Inc. - MRCY
NEW YORK, Aug. 17, 2018 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Mercury Systems, Inc. (“Mercury” or the “Company”) (NASDAQ: MRCY). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Mercury and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 24, 2018, Mercury announced its financial and operating results for the quarter ended March 31, 2018. With respect to its free cash flow for the quarter, Mercury reported a net outflow of $2.6 million, compared to a net inflow of $11.9 million for the same period in the prior year. In a conference call discussing Mercury’s quarterly results, the Company’s Chief Financial Officer stated that Mercury had been aware for the “last couple quarters” of certain customer trends in managing cash in their accounts payable and of Mercury’s need to reduce account payables related to its inventory build, both of which directly impacted Mercury’s cash flow for the quarter ended March 31, 2018. Following this news, Mercury’s share price fell $8.02, or 18.68%, to close at $34.91 on April 25, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.