NEW YORK, March 21, 2016 /PRNewswire/ -- Attorney
Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies
investors that a securities class action has been filed on behalf
of those who purchased shares of Mentor Graphics Corp. ("Mentor
Graphics" or the "Company") (NASDAQ: MENT) during the period
between August 21, 2014 and
November 19, 2015 inclusive (the
"Class Period").
Mentor Graphics is a United
States based multinational corporation dealing in electronic
design automation software and hardware solutions to automate the
design, analysis and testing for electrical engineering and
electronics.
The Complaint alleges that throughout the Class Period,
Defendants issued false and misleading statements to investors
and/or failed to disclose that: (1) Mentor Graphics' customers were
delaying or declining extended license agreements or demanding
price concessions from Mentor Graphics due to the unprecedented
level of mergers and acquisitions in 2015 and earlier; (2) demand
for Mentor Graphics' emulation products had slowed as a result of
the anticipated introduction of competitive products,
notwithstanding Defendants' assertions that it would be a long time
before any competitor could release a competitive virtual emulation
product; (3) early customer contract renewals and related bookings
had the effect of moving expected bookings and revenue from future
periods to earlier periods, and were not, as defendants reported, a
sign that demand was strong and increasing; and (4) as a result
Mentor Graphics' public statements were materially false and
misleading at all relevant times. When this information became
public and entered the market, investors suffered damages.
On November 19, 2015, the Company
released discouraging financial results for its third quarter of
fiscal 2016 and substantially reduced its fourth quarter fiscal
2016 financial outlook, reducing its fourth quarter revenue
estimate by $104 million.
Mentor Graphics also announced that bookings for the three months
ended October 31, 2015 had decreased
by approximately 20% compared to the three months ended
October 31, 2014. This decrease was
attributed to a decrease in term license contract renewals.
Following this news and on that same day, Mentor Graphics stock
fell 36%, to close at $17.85 per
share, on heavy trading volume.
No Class has yet been certified in the above action. If you wish
to review a copy of the Complaint or join the action, please visit
the firm's site: http://www.bgandg.com/#!ment/udo7v. To discuss
this action, or for any questions, please contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484 or via email
info@bgandg.com. Those who inquire by e-mail are encouraged to
include their mailing address and telephone number. If you
suffered a loss in Mentor Graphics Corp. you have until
May 17, 2016 to request that
the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn't require that you serve as a lead
plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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