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MRCY.US
id: 910

Mercury Systems (MRCY) Masking Acquisitions Case

D. Massachusetts
Court
1:23-cv-13065
Case number
03 Feb 2021
Class period Start
06 Feb 2024
Class period End
12 Feb 2024
Lead Plaintiff motion deadline
  • Since the end of July 2022, when Glasshouse published a strong sell report "Roll-Up Mercury Systems Set to Unravel," the complete truth about the state of Mercury's business began to emerge.
  • $MRCY fell ~50%, wiping out $ billions of shareholder value.
  • The first affected stockholder - pension fund - already filed the initial claim over misleading investors in Massachusetts.
Case Details:

On July 26, 2022, Glasshouse Research initiated coverage of Mercury Systems with a strong sell report entitled “Roll-Up Mercury Systems Set to Unravel.”

On this news, $MRCY fell nearly 8%, seriously damaging investors.

On June 23, 2023, Mercury Systems announced a series of changes to leadership and its Board of Directors, including:
  • changes to the positions of President and CEO,
  • the appointment of a new independent director, and
  • the identification of a second new independent director and a permanent CFO.
On this news, $MRCY fell nearly 10%.

The full truth of the state of Mercury’s business was then revealed piecemeal to the market through several partial disclosures that took place between July 26, 2022, and June 23, 2023.

During this time, $MRCY declined nearly 50%, wiping out $ billions in market capitalization and damaging shareholders.

Taking all the facts into account, Investors have reasons to suspect MS & its Leaders of using acquisitions and improper revenue recognition practices to mask its inability to grow organically. One of the affected stockholders, the pension fund, has already filed the initial claim in Massachusetts.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements, 
Financial Misrepresentation, 
Failure to Disclose, 
Omissions
Suspected Party
Directors, 
Management, 
Influencer, 
Hedge Fund
Security Type
Stocks
Trade Direction
Long
Shock Event Date
23 June 2023
Filing date
13 December 2023
Lead Plaintiff Deadline
12 February 2024
Judge
Hon. William G. Young
Collecting participants…