NEW YORK, March 21, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed on behalf of those who purchased shares of Mentor Graphics Corp. ("Mentor Graphics" or the "Company") (NASDAQ: MENT) during the period between August 21, 2014 and November 19, 2015 inclusive (the "Class Period").
Mentor Graphics is a United States based multinational corporation dealing in electronic design automation software and hardware solutions to automate the design, analysis and testing for electrical engineering and electronics.
The Complaint alleges that throughout the Class Period, Defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Mentor Graphics' customers were delaying or declining extended license agreements or demanding price concessions from Mentor Graphics due to the unprecedented level of mergers and acquisitions in 2015 and earlier; (2) 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; (3) 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; and (4) as a result Mentor Graphics' public statements were materially false and misleading at all relevant times. When this information became public and entered the market, investors suffered damages.
On November 19, 2015, the Company released discouraging financial results for its third quarter of fiscal 2016 and substantially reduced its fourth quarter fiscal 2016 financial outlook, reducing its fourth quarter revenue estimate by $104 million. Mentor Graphics also announced that bookings for the three months ended October 31, 2015 had decreased by approximately 20% compared to the three months ended October 31, 2014. This decrease was attributed to a decrease in term license contract renewals. Following this news and on that same day, Mentor Graphics stock fell 36%, to close at $17.85 per share, on heavy trading volume.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint or join the action, please visit the firm's site: http://www.bgandg.com/#!ment/udo7v. To discuss this action, or for any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Mentor Graphics Corp. you have until May 17, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
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