NEW YORK, April 22, 2016 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Mentor Graphics Corporation securities (NASDAQ:MENT) from August 21, 2014 through November 19, 2015, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Mentor Graphics investors under the federal securities laws.
To join the Mentor Graphics class action, go to the firm’s website at http://rosenlegal.com/cases-864.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for more information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Mentor Graphics’ customers were delaying or declining extended license agreements or demanding price concessions from Mentor Graphics due to the unprecedented level of mergers and acquisitions in 2015 and earlier; (2) demand for Mentor Graphics' emulation products had slowed as a result of the anticipated introduction of competitive products, notwithstanding defendants’ assertions that it would be a long time before any competitor could release a competitive virtual emulation product; (3) early customer contract renewals and related bookings had the effect of moving expected bookings and revenue from future periods to earlier periods, and were not, as defendants reported, a sign that demand was strong and increasing; and (4) as a result Mentor Graphics’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 17, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://rosenlegal.com/cases-864.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.