Hagens Berman Alerts Mentor Graphics Corporation (NASDAQ: MENT) Investors of May 17, 2016 Lead Plaintiff Deadline in Securiti...
12 4월 2016 - 9:30PM
Hagens Berman Sobol Shapiro LLP, a national investor-rights law
firm, alerts Mentor Graphics Corporation (NASDAQ:MENT) investors of
the May 17, 2016 lead plaintiff deadline in the securities class
action lawsuit related to defendants’ false and misleading
statements and failures to disclose adverse facts regarding the
Company’s financial condition and growth prospects.
If you suffered significant losses because of your purchases of
Mentor Graphics stock between August 21, 2014 and November 19, 2015
or have information that will help our investigation contact Hagens
Berman Partner Reed Kathrein, who is leading the firm’s
investigation by calling 510-725-3000, emailing
MENT@hbsslaw.com or visiting https://www.hbsslaw.com/cases/MENT
. The lawsuit was filed in the U.S. District Court for the
District of Oregon, Portland Division, and investors have until May
17, 2016 to move the court to participate as a lead plaintiff.
The class action complaint alleges that Defendants made false
and/or misleading statements and/or failed to disclose that:
(1) Mentor Graphics’ customers were delaying or declining extended
license agreements or demanding price concessions from it due to
the unprecedented level of mergers and acquisitions in 2015 and
earlier; (2) demand for the Company’s emulation products had slowed
due to the anticipated introduction of competitive products even
though defendants asserted it would be a long time before any
competitor could release a competitive virtual emulation product;
and, (3) early customer contract renewals and related bookings
moved expected bookings and revenue from future periods to earlier
periods and were not, as defendants reported, a sign that demand
was strong and increasing.
On November 19, 2015, Mentor Graphics announced, in part, that
as a result of semiconductor consolidation, delays in emulator
decisions, and introduction of competitive products the Company
reduced its fourth quarter fiscal year 2016 outlook from $440
million in revenue to $336 million, or by over 23%. On this
news, the price of Mentor’s stock plunged 36%, closing at $17.85
per share, down from the previous day’s close of $27.78 per
share.
Whistleblowers: Persons with non-public
information regarding Mentor Graphics Corporation should consider
their options to help in the investigation or take advantage of the
SEC Whistleblower program. Under the new SEC whistleblower program,
whistleblowers who provide original information may receive rewards
totaling up to 30 percent of any successful recovery made by the
SEC. For more information, call Reed Kathrein at
510-725-3000 or email MENT@hbsslaw.com.
About Hagens Berman Hagens Berman is headquartered in Seattle,
Washington with offices in 10 cities. The Firm represents
investors, whistleblowers, workers and consumers in complex
litigation. More about the Firm and its successes can be found at
www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit
the blog. For the latest news visit our newsroom or follow us on
Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
Mentor Graphics Corp. (NASDAQ:MENT)
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