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MERCURY SYSTEMS, INC. SHAREHOLDER ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Mercury Systems, Inc. (NASDAQ: MRCY)
Globe Newswire 14-Dec-2023 4:00 PM
NEW YORK, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
Do you, or did you, own shares of Mercury Systems, Inc. (NASDAQ:MRCY)?
Did you purchase your shares between December 7, 2020 and June 23, 2023, inclusive?
Did you lose money in your investment in Mercury Systems, Inc.?
Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the common stock of Mercury Systems, Inc. ("Mercury" or the "Company") (NASDAQ:MRCY) between December 7, 2020 and June 23, 2023, inclusive (the "Class Period"). The lawsuit was filed in the United States District Court for the District of Massachusetts and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the "Complaint").
According to the Complaint, Mercury is a technology company that produces component modules and subsystems for the aerospace and defense industries. Prior to and during the Class Period, Mercury was a serial acquirer that used acquisitions and improper revenue recognition practices to mask its inability to grow organically.
On June 23, 2023, Mercury announced that CEO Mark Aslett had abruptly resigned and that the Company's recent strategic review of acquisition alternatives did not result in the sale of the Company.
On this news, the Company's share price fell $3.37, or 9.6%, to close at $31.50 per share on June 26, 2023.
If you wish to serve as lead plaintiff, you must move the Court no later than February 12, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for sixteen consecutive years.
