Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Mercury Systems, Inc. (NASDAQ: MRCY) securities.
If you suffered a loss on your Mercury Systems investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: This lawsuit is on behalf persons and entities that purchased or otherwise acquired the common stock of Mercury between December 7, 2020 and June 23, 2023, inclusive.
CASE DETAILS: The filed complaint alleges that Mercury Systems, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Mercury Systems’ serial acquirer strategy was not working and Mercury Systems was using improper revenue recognition practices such as changing to long-term contracts to mask deteriorating organic growth; (ii) Mercury Systems’ 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 Systems had at least twenty programs that were suffering and not performing well; and (iv) Mercury Systems’ initiative to increase margins was not working and was in fact cutting into margins.
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