FINAL DEADLINE ALERT: Kaskela Law LLC Announces Investor Lawsuit Against Mercury Systems, Inc. and Encourages Investors with Losses in Excess of $25,000 to Contact the Firm – MRCY
Sep. 06, 2018
RADNOR, Pa., Sept. 06, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a class action lawsuit has been filed against Mercury Systems, Inc. (NASDAQ: MRCY) (“Mercury” or the “Company”) on behalf of investors who purchased the Company’s common stock between October 24, 2017 and April 24, 2018, inclusive (the “Class Period”).
IMPORTANT DEADLINE: Investors who purchased Mercury’s common stock during the Class Period may, no later than September 10, 2018, seek to be appointed as a lead plaintiff representative in the action.
Mercury investors with investment losses in excess of $25,000 are encouraged to immediately contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or via firstname.lastname@example.org, to discuss their important legal rights and options with respect to this action. Investors may also submit their information online at http://kaskelalaw.com/case/mercury-systems/.
On April 24, 2018, Mercury announced disappointing quarterly financial and operational results. Subsequently, Mercury’s CFO disclosed that the Company had been aware for the “last couple quarters” of certain customer trends in managing cash in their accounts payable, and of the Company’s need to reduce accounts payable related to its inventory build – both of which directly impacted Mercury’s cash flow for the quarter ended March 31, 2018. Following these disclosures, shares of the Company’s stock fell $8.02 per share, or over 18 percent, to close on April 25, 2018 at $34.91, on heavy trading volume.
The shareholder class action complaint alleges that defendants made false and misleading statements and/or failed to disclose to investors during the Class Period that: (i) Mercury’s decision to in-source processing was adversely impacting Mercury’s operating margins and free cash-flow generation and conversion; and (ii) Mercury’s model was becoming structurally more working capital intensive. The complaint further alleges that, as a result of the foregoing, investors purchased Mercury’s common stock at artificially inflated prices during the Class Period and sustained significant investment losses following the Company’s disclosures.
Mercury investors with investment losses in excess of $25,000 are encouraged to immediately contact Kaskela Law LLC to discuss their legal rights and options with respect to this action. Kaskela Law LLC exclusively represents investors in state and federal stockholder actions throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.