Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Mercury Systems, Inc. Investors
Law Offices of Howard G. Smith
Sep. 01, 2018
BENSALEM, Pa., Aug. 31, 2018 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Mercury Systems, Inc. (“Mercury” or the “Company”) (NASDAQ: MRCY ) securities between October 24, 2017 and April 24, 2018, inclusive (the “Class Period”). Mercury investors have until September 10, 2018 to file a lead plaintiff motion.
Investors that suffered losses on their Mercury investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On April 24, 2018, Mercury announced its financial and operating results for the quarter ending March 31, 2018. 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 accounts payable related to its inventory build, both of which directly impacted Mercury’s cash flow for the quarter ended March 31, 2018. On this news, Mercury’s share price fell $8.02, or 18.68%, to close at $34.91 on April 25, 2018, thereby injuring investors.
The complaint filed in this class action alleges that, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Mercury’s decision to in-source processing was adversely impacting Mercury’s operating margins and free cash-flow generation and conversion; (2) Mercury’s model was becoming structurally more working capital intensive; and (3) as a result of the foregoing, Mercury’s public statements were materially false and misleading at all relevant times.
If you purchased shares of Mercury during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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