Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Mentor Graphics Corporation

SAN DIEGO, March 18, 2016 — (PRNewswire) —   Robbins Geller Rudman & Dowd LLP ("Robbins Geller") ( http://www.rgrdlaw.com/cases/mentorgraphics/) today announced that a class action has been commenced in the United States District Court for the District of Oregon on behalf of purchasers of Mentor Graphics Corporation ("Mentor Graphics") (NASDAQ: MENT) common stock during the period between August 21, 2014 and November 19, 2015 (the "Class Period").

www.rgrdlaw.com for more information. (PRNewsFoto/Robbins Geller Rudman & Dowd LLP)" border="0" alt="Robbins Geller, with 200 lawyers in ten offices, represents U.S. and international institutional investors in contingency-based securities and corporate litigation. The firm has obtained many of the largest securities class action recoveries in history, including the largest securities class action judgment. Please visit www.rgrdlaw.com for more information. (PRNewsFoto/Robbins Geller Rudman & Dowd LLP)" align="middle" imagelabel="Logo" src="https://photos.prnewswire.com/prnvar/20150415/198876LOGO" />

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at Email Contact.  If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/mentorgraphics/.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Mentor Graphics and certain of its officers and directors with violations of the Securities Exchange Act of 1934.  Mentor Graphics develops, manufactures and distributes electronic design automation ("EDA") products – computer software and emulation hardware systems – worldwide, primarily to large companies in the communications, computer, consumer electronics, semiconductor, networking, multimedia, military and aerospace, and transportation industries.

The complaint alleges that during the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information regarding Mentor Graphics' business and prospects, including that: (a) 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; (b) 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 (c) 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.  As a result of these false and misleading statements and/or omissions, Mentor Graphics common stock traded at artificially inflated prices of over $27 per share during the Class Period.

Then on November 19, 2015, Mentor Graphics 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.  In addition, 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, the price of Mentor Graphics stock fell 36%, closing at $17.85 per share, down from the previous day's close of $27.78 per share, on high trading volume.

Plaintiff seeks to recover damages on behalf of all purchasers of Mentor common stock during the Class Period (the "Class").  The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud.

Robbins Geller, with 200 lawyers in ten offices, represents U.S. and international institutional investors in contingency-based securities and corporate litigation.  The firm has obtained many of the largest securities class action recoveries in history and was ranked first in both the amount and number of shareholder class action recoveries in ISS's SCAS Top 50 report for 2014.  Please visit http://www.rgrdlaw.com/cases/mentorgraphics/ for more information.

https://www.linkedin.com/company/rgrdlaw
https://twitter.com/rgrdlaw
https://www.facebook.com/rgrdlaw 
https://plus.google.com/+Rgrdlaw/posts

Logo - http://photos.prnewswire.com/prnh/20150415/198876LOGO

 

To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/robbins-geller-rudman--dowd-llp-files-class-action-suit-against-mentor-graphics-corporation-300238286.html

SOURCE Robbins Geller Rudman & Dowd LLP

Contact:
Robbins Geller Rudman & Dowd LLP
Mentor Graphics Corporation
Darren Robbins, 619-231-1058
Email Contact
Web: http://www.rgrdlaw.com/?utm_source=PRNewswire&utm_medium=Press%20Release&utm_campaign=Site%20Preview




Review Article Be the first to review this article
Featured Video
Latest Blog Posts
Alex Carrick, Chief Economist at ConstructConnectThe AEC Lens
by Alex Carrick, Chief Economist at ConstructConnect
The Economy under COVID-19: Notes from the Trenches (40)
Jobs
Geographic Information System Analyst II for State of Idaho at Boise, Idaho
ROV Pilot II for TechnipFMC at Houston,, Texas
Mechanical Designer for TechnipFMC at Houston,, Texas
GIS Analyst #14713 for State of Missouri at Jefferson City,, Missouri
Upcoming Events
BUILDINGSNY -postponed June 17-18, 2020 at Javits Center New York City NY - Jun 17 - 18, 2020
Urban Planning & Architectural Design for Sustainable Development – 5th Edition at Rome,Italy Roma Tre University Rome Italy - Jul 7 - 9, 2020
Cities’ Identity Through Architecture and Arts – 4th Edition at Rome,Italy Rome Italy - Jul 7 - 9, 2020
AEC Next Technology Expo + Conference (NEW DATE), at McCormick Place Chicago IL - Jul 27 - 29, 2020
Kenesto: 30 day trial
Bentley: YII 2020 Awards
CADalog.com - Countless CAD add-ons, plug-ins and more.



© 2020 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise