Mercury Systems, Inc. (NASDAQ: MRCY)

DEFENDANT NAME: Mercury Systems, Inc.
STOCK SYMBOL: NASDAQ: MRCY
CASE NUMBER:
COURT: U.S. District Court for the District of Massachusetts
PRACTICE AREA: Investor Fraud
STATUS: Investigation
CLASS PERIOD: October 24, 2017 - April 24, 2018
LEAD PLAINTIFF DEADLINE: September 10, 2018
DATE FILED:
COURT LOCATION:
RELATED DOCUMENTS:
CONTACT:
510-725-3000 MRCY@hbsslaw.com

Hagens Berman Sobol Shapiro LLP alerts investors in Mercury Systems, Inc. (NASDAQ: MRCY) to the September 10, 2018 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the District of Massachusetts.

If you purchased or otherwise acquired shares of MRCY between between October 24, 2017 and April 24, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing MRCY@hbsslaw.com.

During early February 2018, Mercury’s Chief Financial Officer abruptly left his position with the Company.

Shortly afterwards, on April 24, 2018, Mercury reported disappointing operating results for the third quarter of fiscal 2018 ended March 31, 2018.  During the earnings conference call with analysts that day, the new CFO explained in part that (1) during the first and second quarters of fiscal 2018 Mercury Systems’ day sales outstanding (“DSOs”) increased disproportionately to revenues, and (2) the Company’s free cash flow deteriorated from the year earlier period.

This news drove the price of Mercury shares down $8.02, or about 18.7%, to close at $34.91 on April 25, 2018.

“We’re focused on investors’ losses, the reasons for the former CFO’s departure, possibly suspicious insider sales, and the extent to which Defendants’ pre- April 24th statements may have misled Mercury investors,” said Hagens Berman partner Reed Kathrein.

Whistleblowers:  Persons with non-public information regarding Mercury should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email MRCY@hbsslaw.com.


Hagens Berman purchases advertisements on search engines, social media sites and other websites. Transmission of the information contained or available through this website is not intended to create, and receipt does not constitute, an attorney-client relationship. If you seek legal advice or representation by Hagens Berman, you must first enter a formal agreement. All information contained in any transmission is confidential and Hagens Berman agrees to protect information against unauthorized use, publication or disclosure. This site is regulated by the Washington Rules of Professional Conduct.

Back to all cases

Contact:

Please fill out the form below and we will get back to you as soon as we can.
 
*
*
*
*
*
*
*
*
*
*
Upload your trade data *
File Upload *
Please Explain Your Potential Legal Claim *
*
*
 

Case videos

Case Gallery

Case Timeline

07/17/18: Investigation