ACCESS Newswire
08 Aug 2022, 19:55 GMT+10
NEW YORK, NY / ACCESSWIRE / August 8, 2022 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Mercury Systems, Inc. ('Mercury' or the 'Company') (NASDAQ:MRCY). Investors who purchased Mercury securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/mrcy.
The investigation concerns whether Mercury has violated federal securities laws.On July 26, 2022, Glasshouse Research ('Glasshouse') published a short report entitled 'Roll-Up Mercury Systems Set to Unravel'. The Glasshouse report claimed, among other things, that Mercury's organic revenue is 'overstated,' that the Company's recent Physical Optics acquisition has been a 'disaster', and that management has prematurely recognized revenue on certain significant projects. On this news, Mercury's stock price fell $4.87 per share, or 7.8%, to close at $57.26 per share on July 26, 2022. Then, on August 2, 2022, 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, Mercury's stock price fell $7.67 per share, or 13.34%, to close at $49.81 per share on August 3, 2022.
If you are aware of any facts relating to this investigation or purchased Mercury shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/mrcy. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC
Get a daily dose of Cleveland Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cleveland Star.
More InformationWASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
(Photo credit: Thomas Shea-Imagn Images) It was fitting that the Astros had to dig deep into their reconfigured bench in the latter...
(Photo credit: Patrick Gorski-Imagn Images) After hitting their season's low point a week ago, the Cleveland Guardians have reversed...
(Photo credit: David Richard-Imagn Images) In a span of 10 pitches Saturday, the Cincinnati Reds ensured they wouldn't be swept for...
(Photo credit: Eric Canha-Imagn Images) In his 51st career start, Garrett Crochet accomplished two feats in one dominant outing:...
(Photo credit: Katie Stratman-Imagn Images) In a game that saw two substantial momentum swings, the Columbus Crew scored three unanswered...