LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its investigation of Mercury Systems, Inc. (“Mercury” or the “Company”) (NASDAQ: MRCY) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On July 26, 2022, Glasshouse Research published a report alleging that Mercury’s organic revenue is “overstated,” that its Physical Optics acquisition has been a “disaster,” and that management has prematurely recognized revenues.
On this news, Mercury’s stock fell $4.87, or 7.8%, to close at $57.26 per share on July 26, 2022, thereby injuring investors.
Then, on August 2, 2022, after the market closed, Mercury announced its fourth quarter and full year 2022 financial results, reporting $289.7 million in quarterly revenue, which is below prior guidance expecting revenue between $301.5 million and $321.5 million. The Company attributed the shortfall to “material and order delays that affected the timing of revenue.”
On this news, the Company’s stock fell as much as 13% during intraday trading on August 3, 2022, thereby injuring investors further.
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If you purchased Mercury securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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