| COMPANY |
Mercury Systems, Inc. |
| COURT |
United States District Court for the District of Massachusetts |
| CASE NUMBER |
23-cv-13065 |
| JUDGE |
The Hon. William G. Young |
| CLASS PERIOD |
December 7, 2020 through June 23, 2023 |
| SECURITY TYPE |
Common Stock |
Case Background:
Kessler Topaz Meltzer & Check, LLP has filed a class action lawsuit on behalf of those who purchased or acquired Mercury Systems, Inc. (“Mercury”) (NASDAQ: MRCY) common stock between February 3, 2021 and February 6, 2024, both dates inclusive (the “Class Period).
The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that: (1) Mercury’s serial acquiror strategy was not working and the company was using improper revenue recognition practices such as changing to long-term contracts to mask deteriorating organic growth; (2) the acquisition of POC caused POC to lose its small business accreditation, which prevented POC from winning contracts that made up a large portion of its historical business; (3) Mercury had at least twenty programs that were suffering and not performing well; and (4) as a result, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On April 18, 2024, Lead Plaintiff filed an Amended Complaint. Defendants filed Motion to Dismiss the Amended Complaint on May 24, 2024. The Motions are fully briefed and are pending the Court’s decision. The action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.