According to the complaint, defendants made false and/or misleading statements and/or failed to disclose that:
- Mercury’s serial acquiror strategy was not working and Mercury was using improper revenue recognition practices such as changing to long-term contracts to mask deteriorating organic growth;
- the acquisition would cause Physical Optics Corporation (“POC”) to lose its small business accreditation, which would prevent POC from winning contracts that made up a large portion of its historical business;
- Mercury had at least twenty programs that were suffering and not performing well;
- Mercury’s 1MPACT strategic growth initiative to increase margins was not working and was in fact cutting into margins; and
- as result, Mercury’s statements about its financial performance and its ability to meet its lofty projections were based on false assumptions.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
