SOURCE: Hagens Berman Sobol Shapiro LLP

May 10, 2016 08:30 ET

Hagens Berman Reminds Mentor Graphics Corporation (NASDAQ: MENT) Investors of May 17, 2016 Lead Plaintiff Deadline

SAN FRANCISCO, CA--(Marketwired - May 10, 2016) -  Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds Mentor Graphics Corporation (NASDAQ: MENT) investors of the May 17, 2016 lead plaintiff deadline in the securities class action lawsuit concerning Defendants' statements about Mentor's growth prospects and lack of competition while omitting contrary, then-existing known facts.

If you suffered significant losses because of your purchases of Mentor Graphics stock between August 21, 2014 and November 19, 2015 or have information that will help our investigation contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation by calling 510-725-3000, emailing MENT@hbsslaw.com or visiting https://www.hbsslaw.com/cases/MENT. The lawsuit was filed in the U.S. District Court for the District of Oregon, Portland Division, and investors have until May 17, 2016 to move the court to participate as a lead plaintiff.

In August of 2015, Mentor raised revenue guidance, after which its CEO and Chairman sold 170,000 shares in early October 2015. Then on November 19, 2015, Mentor reduced its fourth quarter fiscal year 2016 outlook by 23%, from $440 million in revenue to $336 million. On this news, the Company's stock price plunged 36%, closing at $17.85 per share, down from the previous day's close of $27.78 per share.

"Mentor and its senior management touted the Company's growth prospects and competitive advantage to investors," said Hagens Berman partner Reed Kathrein. "But the significant insider selling during this time period and contradictory explanations for the reductions in revenue do not add up."

Whistleblowers: Persons with non-public information regarding Mentor Graphics Corporation should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email MENT@hbsslaw.com.

About Hagens Berman
Hagens Berman is headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm's Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact Information

  • Contact:
    Reed Kathrein
    510-725-3000