Hagens Berman Reminds Mentor Graphics Corporation (NASDAQ: MENT) Investors of May 17, 2016 Lead Plaintiff Deadline in Securit...
29 4월 2016 - 12:46AM
Hagens Berman Sobol Shapiro LLP, a national investor-rights law
firm, reminds Mentor Graphics Corporation (NASDAQ:MENT) investors
of the May 17, 2016 lead plaintiff deadline in the securities class
action lawsuit related to defendants’ statements concerning
Mentor’s growth prospects and lack of competition while omitting
contrary, then-existing known facts.
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 complaint alleges that Defendants falsely stated and/or
omitted that: (1) Mentor’s 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 its emulation
products slowed due to the anticipated introduction of competitive
products even though defendants asserted a competitive virtual
emulation product was not imminent; 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 reduced its fourth quarter fiscal
year 2016 outlook by 23% from $440 million in revenue to $336
million. Reasons given included semiconductor consolidation,
delays in emulator decisions, and introduction of competitive
products. On this news, the Company’s stock price plunged
36%, closing at $17.85 per share, down from the previous day’s
close of $27.78 per share.
“Mentor and its senior management touted the Company’s growth
prospects and competitive advantage to investors and we’re
concerned because there is significant insider selling during this
time period and contradictory explanations for the reductions in
revenue,” said Hagens Berman partner Reed Kathrein.
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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