Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Mercury Systems, Inc. (NASDAQ:MRCY) and Encourages Investors to Contact the Firm
NEW YORK, July 10, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired Mercury Systems, Inc. (NASDAQ:MRCY) securities between October 24, 2017 and April 24, 2018 (the “Class Period”). Investors have until September 10, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that (i) Mercury’s decision to in-source processing was adversely impacting Mercury’s operating margins and free cash-flow generation and conversion; (ii) Mercury’s model was becoming structurally more working capital intensive; (iii) as a result of the foregoing, Mercury’s public statements were materially false and misleading at all relevant times.
Specifically, during a December 31, 2017 conference call, Mercury’s CFO stated that the Company expected improvement in its free cash flow for the year. Then on April 24, 2018, Mercury issued a press release noting that its “Free cash flow… was a net outflow of $(2.6) million in the third quarter of fiscal 2018, compared to a net inflow of $11.9 million in the third quarter of fiscal 2017.”
If you purchased Mercury securities during the Class Period or continue to hold shares purchased before the Class Period, have information, 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Mercury Systems, Inc. lawsuit, please go to https://bespc.com/mercury/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.