MRCY Lead Plaintiff Deadline Approaching

Kessler Topaz Meltzer & Check, LLP Announces Deadline in Securities Fraud Class Action Lawsuit Filed against Mercury Systems, Inc. (MRCY) - Seite 2

The truth began to emerge on July 26, 2022, when market analyst Glasshouse Research published a report detailing how Mercury was manipulating its revenue numbers. On this news, the price of Mercury shares declined by $4.87 per share, or approximately 7.8%, from $62.13 per share to close at $57.26 on July 26, 2022. Over the next several quarters, however, Mercury continued to conceal the full truth by continuing to hide troubled projects and providing an untrue picture of its financial condition.

The truth finally began to be revealed, however, on May 2, 2023, when Mercury announced weak third quarter 2023 earnings and lower margins, causing the company to cut its full year 2023 guidance. On this news, the price of Mercury shares declined by $7.84 per share, or approximately 17.3%, from $45.28 per share to close at $37.44 on May 3, 2023.

Then, on June 23, 2023, Mercury announced that its CEO had abruptly resigned and that the company’s recent strategic review of acquisition alternatives had been unsuccessful. On this news, the price of Mercury shares declined by $3.37 per share, or approximately 9.6%, from $34.87 per share to close at $31.50 on June 26, 2023.

WHAT CAN I DO?

Mercury investors may, no later than February 12, 2024, move the Court to serve as lead plaintiff for the class, through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Mercury investors who have suffered significant losses to contact the firm directly to acquire more information. The class action complaint against Mercury Systems, North Collier Fire Control and Rescue District Firefighters’ Pension Plan v. Mercury Systems, Inc., et al., Case No. 23-cv-13065, is filed in the United States District Court for the District of Massachusetts.

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WHO CAN BE A LEAD PLAINTIFF?

A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.