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