MRCY - MERCURY SYSTEMS ALERT: Bragar Eagel & Squire P.C. is Investigating Mercury Systems Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Mercury Systems, Inc. (NASDAQ:MRCY) on behalf of long-term stockholders following a class action complaint that was filed against Mercury Systems on December 13, 2023 with a Class Period from December 7, 2020 to June 23, 2023. Our investigation concerns whether the board of directors of Mercury Systems have breached their fiduciary duties to the company.
Mercury Systems is a technology company that produces component modules and subsystems for the aerospace and defense industries. In December 2020, Mercury Systems acquired Physical Optics Corporation ("POC").
The Mercury Systems class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statement and/or failed 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 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; ...