NEW YORK, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Mercury Systems, Inc. (“Mercury” or the “Company”) (NASDAQ: MRCY) for violations of the federal securities laws on behalf of a class consisting of all persons and entities that purchased or otherwise acquired the common stock of Mercury securities between December 7, 2020 and June 23, 2023, both dates inclusive (the “Class Period”).
On December 13, 2023, a complaint was filed against the Company and certain of its former officers alleging that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) Mercury’s serial acquirer strategy was not working and Mercury was using improper revenue recognition practices such as changing to long-term contracts to mask deteriorating organic growth; (ii) Mercury’s acquisition of Physical Optics Corporation (“POC”) caused POC to lose its small business accreditation, which prevented POC from winning contracts that made up a large portion of its historical business; (iii) Mercury had at least twenty programs that were suffering and not performing well; and (iv) Mercury’s initiative to increase margins was not working and was in fact cutting into margins.
When investors learned the truth, Mercury’s common stock declined precipitously, injuring investors.
If you suffered a loss of more than $100,000 in Mercury’s securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).
Any investor who wishes to serve as Lead Plaintiff must act before February 12, 2024.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
