Hagens Berman Alerts Mentor Graphics Corporation (NASDAQ: MENT) Investors of May 17, 2016 Lead Plaintiff Deadline in Securities Class Action

SAN FRANCISCO, April 12, 2016 -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, alerts Mentor Graphics Corporation (NASDAQ:MENT) investors of the May 17, 2016 lead plaintiff deadline in the securities class action lawsuit related to defendants’ false and misleading statements and failures to disclose adverse facts regarding the Company’s financial condition and growth prospects.

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 [email protected] 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.

The class action complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:  (1) Mentor Graphics’ customers were delaying or declining extended license agreements or demanding price concessions from it due to the unprecedented level of mergers and acquisitions in 2015 and earlier; (2) demand for the Company’s emulation products had slowed due to the anticipated introduction of competitive products even though defendants asserted it would be a long time before any competitor could release a competitive virtual emulation product; and, (3) early customer contract renewals and related bookings moved expected bookings and revenue from future periods to earlier periods and were not, as defendants reported, a sign that demand was strong and increasing.

On November 19, 2015, Mentor Graphics announced, in part, that as a result of semiconductor consolidation, delays in emulator decisions, and introduction of competitive products the Company reduced its fourth quarter fiscal year 2016 outlook from $440 million in revenue to $336 million, or by over 23%.  On this news, the price of Mentor’s stock plunged 36%, closing at $17.85 per share, down from the previous day’s close of $27.78 per share. 

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 [email protected].

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Contact:
Reed Kathrein, 510-725-3000