NEW YORK, March 21, 2016 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of Mentor Graphics
Corporation ("Mentor" or the "Company") (NASDAQ: MENT). Such
investors are advised to contact Robert S.
Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext.
9980.
The investigation concerns whether Mentor and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On November 19, 2015, the Company
announced disappointing financial results for the third quarter of
fiscal 2016 and substantially reduced its fourth quarter fiscal
2016 financial outlook, lowering its fourth quarter revenue
forecast by $104 million.
Moreover, the Company stated that bookings for the three
months ended October 31, 2015 had
decreased by approximately 20% compared to the three months ended
October 31, 2014, primarily due to a
decrease in term license contract renewals.
On this news, Mentor stock fell 35.75%, or $9.93, to close at $17.85 per share on November 20, 2015, on high trading volume.
The Pomerantz Firm, with offices in New York, Chicago, Los
Angeles, and Florida, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the
dean of the class action bar, the Pomerantz Firm pioneered the
field of securities class actions. Today, more than 80 years later,
the Pomerantz Firm continues in the tradition he established,
fighting for the rights of the victims of securities fraud,
breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of
class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP