Mercury Systems, Inc.
(NASDAQ GS: MRCY)
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Mercury Systems, Inc. ("Mercury" or the "Company"). A class action complaint has been filed against Mercury. The complaint alleges that defendants repeatedly touted the success of the Company's growth, painting a false rosy financial picture for investors. Defendants repeatedly misled investors to believe that their growth was organic by misrepresenting several elements of Mercury's business, including by hiding that Mercury had switched from "point-in-time" to "long-term contracts" to improperly boost reported revenues and that several of Mercury's projects were in significant distress, including projects related to Mercury's acquisition of Physical Optics Corporation. Mercury also lied to investors about its strategic growth initiative, 1MPACT, which was designed to improve profit margins but, unbeknownst to investors, was used to disguise regular expenses as restructuring costs, enabling Mercury to claim that recurring expenses were one-time costs.