BOSTON, July 30, 2018 /CNW/ -- Thornton Law Firm LLP is investigating claims on behalf of investors of Mercury Systems, Inc. (NASDAQ: MRCY). A class action lawsuit has been filed on behalf of purchasers of the securities of Mercury Systems in Andover, MA. The investigation and lawsuit relate to whether Mercury Systems and certain officers or directors committed securities fraud.
Investors who have purchased or acquired Mercury Systems stock are encouraged to contact Thornton Law Firm LLP at [email protected] or 617-720-1333. If you wish to serve as lead plaintiff, you must seek appointment by the Court no later than September 10, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
Mercury Systems reported quarterly financial and operating results on April 24, 2018 that conflicted with prior statements by the company and its executives and may be proof that previous statements made by Mercury or its officers were false and misleading. Among other things, the Company reported on its free cash flow, and indicated a net outflow of $2.6 million, compared to a net inflow of $11.9 million for the same period in the prior year. The Company's Chief Financial Officer stated that Mercury had been aware for the "last couple quarters" of certain trends involving its customers that were negatively impacting the Company's cash flow, and that Mercury needed to reduce account payables related to its inventory build.
Following this news, Mercury Systems stock price fell $8.02, or 18.68%, to close at $34.91 on April 25, 2018.
Thornton Law Firm's securities attorneys specialize in representing individual shareholders and institutional investors in recovering damages caused by corporate fraud. Its attorneys have decades of experience litigating securities fraud cases in courts throughout the country and have a proven track record of recovering hundreds of millions of dollars on behalf of shareholders. This may be considered attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Thornton Law Firm, LLP
For further information: Guillaume O. Buell, Thornton Law Firm, LLP, Email: [email protected], Tel: 1-617-720-1333, Tel: 1-800-431-4600, http://www.tenlaw.com