CLASS ACTION UPDATE for MRCY and FLKS: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, July 15, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court; further details about the cases can be found at the links provided.
Mercury Systems, Inc. (NASDAQ:MRCY)Class Period: October 24, 2017 - April 24, 2018Lead Plaintiff Deadline: September 10, 2018
The complaint alleges that Mercury made materially false and misleading statements and/or failed to disclose that: Mercury’s decision to in-source processing was adversely impacting Mercury’s operating margins and free cash-flow generation and conversion; Mercury’s model was becoming structurally more working capital intensive; as a result of the foregoing, Mercury’s public statements were materially false and misleading at all relevant times.
To learn more about the Mercury class action go to: http://www.zlk.com/pslra-d/mercury-systems?wire=3.
Flex Pharma, Inc. (NASDAQ:FLKS)Class Period: November 6, 2017 - June 12, 2018Lead Plaintiff Deadline: August 20, 2018
During the class period, Flex Pharma overstated the viability and approval prospects for its product candidate FLX-787 for the treatment of amyotrophic lateral sclerosis and Charcot-Marie-Tooth disease; and as a result, Flex Pharma’s public statements were materially false and misleading at all relevant times. On June 13, 2018, Flex announced that it planned to halt its FLX-787 trials, citing oral tolerability concerns observed in both studies. Flex also said that it will restructure its organization to reduce costs, including reducing its workforce by approximately 60%, and that Flex’s Board is exploring “strategic alternatives, including the potential sale or merger of the company.” Following this news, Flex stock dropped $3.14 per share, or 75.12%, to close at $1.04 on June 13, 2018.
To learn more about the FLKS class action go to: http://www.zlk.com/pslra-d/flex-pharma-inc?wire=3.
You have until the lead plaintiff deadlines to request the court appoint you lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:Levi & Korsinsky, LLPJoseph E. Levi, Esq.30 Broad Street - 24th FloorNew York, NY 10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com