Shareholder rights law firm Robbins
Arroyo LLP announces that purchasers of Mercury Systems, Inc.
(NasdaqGS: MRCY) filed a class action complaint against the company's
officers and directors for alleged violations of the Securities Exchange
Act of 1934 between October 24, 2017 and April 24, 2018. Mercury Systems
provides sensor and safety critical mission processing subsystems for
various critical defense and intelligence programs in the United States.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/mercury-systems-inc
About the complaint
According to the complaint, Mercury touted that the company's business
model was working very well and noted that fiscal 2018 would yield
stronger cash flows compared to fiscal 2017. Despite such optimistic
predictions, on April 24, 2018, Mercury revealed the company's free cash
flow was a net outflow of $2.6 million, compared to a net inflow
of $11.9 million in the previous year's comparable quarter, due to the
company's integration of its acquisitions and its decision to in-source
its manufacturing. In a conference call to discuss the company's
financial results, Mercury admitted that it had been experiencing
problems with cash for the last three quarters, and further stated that
the company should begin to see improvements in EBITDA to free cash flow
run in fiscal 2019. On this news, Mercury's stock fell over 18% to close
at $34.91 on April 25, 2018.
Mercury Shareholders Have Legal Options
If you would like more information about your rights and potential
remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005786/en/