Mercury Systems, Inc. (NASDAQ: MRCY)
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.
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