Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Jan. 22, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Mercury Systems, Inc. (“Mercury” or “the Company”) (NASDAQ: MRCY) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Mercury investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Glasshouse has accused Mercury of exaggerating its organic revenue, having a failed acquisition of Physical Optics Corporation, prematurely recognizing revenue leading to unsustainably high earnings, causing delays and lack of critical parts to negatively impact inventory margins, falsely inflating its free cash flow, and having skyrocketing unbilled receivables which suggests a pull-forward of $110 million of revenue. On August 2, 2022, Mercury announced poor financial results for Q4 2022, which missed analysts' expectations and attributed the primarily to material and order delays, in-quarter supply decommits, long lead times for high-end semiconductors, and delayed supply in deliveries. As a result, the stock price of Mercury went down sharply.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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