NEW YORK, May 17, 2024 /PRNewswire/ — Moore Law, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
Mercury Systems Inc. (“MRCY” or the “Company”) (NYSE: MRCY)
Shareholders who purchased before February 3, 2021 should email: [email protected]
The investigation concerns false and/or misleading statements and/or failure to disclose that: (i) Mercury Systems’ serial acquirer strategy was not working and Mercury Systems was using improper revenue recognition practices such as changing to long-term contracts to mask deteriorating organic growth; (ii) Mercury Systems’ acquisition of Physical Optics Corporation (“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; (iii) Mercury Systems had at least twenty programs that were suffering and not performing well; and (iv) Mercury Systems’ initiative to increase margins was not working and was in fact cutting into margins.
Glasshouse Research published an article advising that “Mercury Systems is a serial acquirer that uses acquisitions to mask suspect revenues and earnings. As the core business continues to decay, management’s recent premature revenue recognition and transition to long-term contracts have backfired as milestone delays and outsized contract assets are material headwinds for the company moving forward.”
Over the last year, Mercury Systems Inc. stock is down 24.81% from $41.79 to $31.42.
Whistleblowers: If you have information that could be relevant to the investigation, you may be entitled to substantial compensation. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
ABOUT MOORE LAW PLLC
Moore Law is a NYC litigation law firm for investors. We hold officers and directors accountable for breaches of fiduciary duty, fraud, insider trading, wasteful spending, and other corporate malfeasance. We strengthen corporate reforms to protect your investments.
Fletcher Moore, Esq.
Moore Law, PLLC
[email protected]
(212) 709-8245
www.fmoorelaw.com
SOURCE Moore Law PLLC