LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Mentor Graphics Corp. (“Mentor” or the “Company”) (NASDAQ: MENT) securities between August 21, 2014 and November 19, 2015, inclusive (the “Class Period”). Mentor investors have until May 17, 2016 to file a lead plaintiff motion.
Investors who have suffered losses on their Mentor investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
The complaint alleges that 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.
GPM represents institutional and retail investors in securities class actions throughout the country.
If you purchased shares of Mentor during the Class Period you may move the Court no later than May 17, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.