NEW YORK, March 21, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Mentor Graphics Corporation ("Mentor" or the "Company") (NASDAQ: MENT). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Mentor and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On November 19, 2015, the Company 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. Moreover, 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, Mentor stock fell 35.75%, or $9.93, to close at $17.85 per share on November 20, 2015, on high trading volume.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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SOURCE Pomerantz LLP