GPM Reminds Investors of the May 17 Deadline in the Class Action Lawsuit Against Mentor Graphics Corp.
May 12 2016 - 11:14AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the
upcoming May 17, 2016 deadline to file a lead plaintiff
motion in the class action filed by GPM on behalf of a class (the
“Class”) of investors who purchased Mentor Graphics Corp. (“Mentor
” or the “Company”) (NASDAQ: MENT) securities between August 21,
2014 and November 19, 2015, inclusive (the “Class Period”).
Mentor investors have until May 17, 2016 to file a
lead plaintiff motion.
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 the true details entered the
market, the lawsuit claims that investors suffered damages.
If you purchased Mentor Graphics shares, you may move the Court
no later than May 17, 2016 to request appointment
as lead plaintiff. To be a member of the class you need not take
any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you
wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160512006042/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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