A lawsuit was filed on behalf of investors in Mentor Graphics Corp (NASDAQ:MENT) shares over alleged securities laws violations and NASDAQ:MENT investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/05/2016 -- A shareholder of Mentor Graphics Corp (NASDAQ:MENT) filed a lawsuit in the U.S. District Court for the District of Oregon over alleged violations of Federal Securities Laws by Mentor Graphics Corp.
Investors who purchased shares of Mentor Graphics Corp (NASDAQ:MENT) have certain options and for certain investors are short and strict deadlines running. Deadline: May 17, 2016. (NASDAQ:MENT investors should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of Mentor Graphics Corp (NASDAQ:MENT) common shares between August 21, 2014 and November 19, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 21, 2014 and November 19, 2015 defendants made false and misleading statements and/or failed to disclose adverse information regarding Mentor Graphics' business and prospects, including that Mentor Graphics' customers were delaying or declining extended license agreements or demanding price concessions from the Company due to the unprecedented level of mergers and acquisitions in 2015 and earlier, that 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, and that 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.
The plaintiff says that as a result of these allegedly false and misleading statements and/or omissions, Mentor Graphics common stock traded at artificially inflated prices of over $27 per share between August 21, 2014 and November 19, 2015.
Mentor Graphics Corp reported that its Total Revenue rose from over $1.15 billion for the 12 months period that ended on January 31, 2014 to over $1.24 billion for the 12 months period that ended on January 31, 2015 while its Net Income for those respective time periods declined from $155.26 million to $147.14 million.
Shares of Mentor Graphics Corp (NASDAQ:MENT) grew from $13.59 per share in November 2012 to as high as $28.09 per share on November 11, 2015.
On November 19, 2015, Mentor Graphics Corp reported its results for its fiscal third quarter ended on October 31, 2015 and issued its outlook for the fourth quarter and full year. Shares of Mentor Graphics Corp (NASDAQ:MENT) declined to as low as $17.28 per share on November 23, 2015
Those who purchased shares of Mentor Graphics Corp (NASDAQ:MENT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego