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Friday, January 27, 2023

Securities Investigation Alert: Kessler Topaz Meltzer & Check, LLP is Investigating Securities Fraud Claims on Behalf of Investors of Mercury Systems, Inc. (MRCY)

Last updated Monday, January 23, 2023 17:05 ET

Vancouver Canada · V6E 4A6, Canada, 01/23/2023 / SubmitMyPR /

Radnor, Pennsylvania--(Newsfile Corp. - January 23, 2023) - The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Mercury Systems, Inc. (NASDAQ: MRCY) ("Mercury Systems").

On July 26, 2022, Glasshouse Research published a report detailing how the company's "management has used accounting gimmicks to obfuscate true economic earnings while concealing the decay of its core company." Specifically, the report stated that Mercury Systems' management has "prematurely recognized revenue on significant projects boosting both revenue and earnings unsustainably" while also using recent acquisitions to conceal true earnings "with material non-GAAP exclusions." Additionally, the report indicated that Mercury Systems' free-cash-flow is "grossly overstated as the company has been stifling its vendors to conserve cash." Following this news, Mercury Systems' stock price fell $4.87, or 7.8%, to close at $57.26 per share on July 26, 2022.

Then, on August 2, 2022, Mercury Systems reported fourth quarter 2022 revenue which was well below the amount expected from previous guidance. Mercury Systems also reported non-GAAP EPS of $0.81, missing consensus estimates by $0.17. Following this news, Mercury Systems' stock price fell $7.67, or 13.3%, to close at $49.81 per share on August 3, 2022.

If you are a Mercury Systems investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or E-mail at [email protected]. You can also click on the following link or paste it in your browser: https://www.ktmc.com/mercury-systems-inc-investigation?utm_source=PR&utm_medium=link&utm_campaign=rcm&mktm=r

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152187

Original Source of the original story >> Securities Investigation Alert: Kessler Topaz Meltzer & Check, LLP is Investigating Securities Fraud Claims on Behalf of Investors of Mercury Systems, Inc. (MRCY)