Cases
Mercury Systems, Inc. (NASDAQGS: MRCY)
Securities Class Action
Overview
Overview
- Date:
- 7/10/2018
- Company Name:
- Mercury Systems, Inc.
- Stock Symbol:
- MRCY
- Class Period:
- FROM 10/24/2017 TO 4/24/2018
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Massachusetts
NEW YORK, July 10, 2018 – 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. (NYSE: 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.