Shareholder Alert: Mercury Systems Investor Class Action Lawsuit Filed
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Mercury Systems reported quarterly financial and operating results on April 24, 2018 that conflicted with prior statements by the company and its executives and may be proof that previous statements made by Mercury or its officers were false and misleading. Among other things, the Company reported on its free cash flow, and indicated a net outflow of $2.6 million, compared to a net inflow of $11.9 million for the same period in the prior year. The Company's Chief Financial Officer stated that Mercury had been aware for the "last couple quarters" of certain trends involving its customers that were negatively impacting the Company's cash flow, and that Mercury needed to reduce account payables related to its inventory build.
Following this news, Mercury Systems stock price fell $8.02, or 18.68%, to close at $34.91 on April 25, 2018.
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