Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Mentor Graphics Corp. (MENT) & Encou...
22 3월 2016 - 7:51AM
Business Wire
Bragar Eagel & Squire, P.C. announces that a class action
lawsuit has been filed in the United States District Court for the
District of Oregon on behalf of all persons or entities who
acquired Mentor Graphics Corporation (NASDAQ:MENT) securities
between August 21, 2014 and November 19, 2015, inclusive (the
“Class Period”).
Mentor Graphics develops, manufactures and distributes
electronic design automation (“EDA”) products – computer software
and emulation hardware systems – worldwide, primarily to large
companies in the communications, computer, consumer electronics,
semiconductor, networking, multimedia, military and aerospace, and
transportation industries.
The lawsuit alleges that during the Class Period, defendants
made false and misleading statements and/or failed to disclose
adverse information regarding Mentor Graphics’ business and
prospects, including that: (a) Mentor Graphics’ customers were
delaying or declining extended license agreements or demanding
price concessions from the company due to the unprecedented level
of mergers and acquisitions in 2015 and earlier; (b) 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;
and (c) 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. As a result of these
alleged false and misleading statements and/or omissions, Mentor
Graphics common stock traded at artificially inflated prices of
over $27 per share during the Class Period.
On November 19, 2015, Mentor Graphics 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. In addition, 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,
the price of Mentor Graphics stock fell 36%, closing at $17.85 per
share, down from the previous day’s close of $27.78 per share, on
high trading volume.
If you purchased Mentor Graphics securities during the Class
Period, have information or would like to learn more about these
claims, or have any questions concerning this announcement or your
rights or interests with respect to these matters please contact J.
Brandon Walker, Esq. by email at investigations@bespc.com, or
telephone at (212) 355-4648, or by filling out this contact form.
There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm
concentrating in commercial and securities litigation. For
additional information, please go to www.bespc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160321006399/en/
Bragar Eagel & Squire, P.C.J. Brandon Walker, Esq.,
212-355-4648investigations@bespc.com
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