INVESTOR REMINDER: Kessler Topaz Meltzer & Check, LLP Alerts Shareholders of Securities Class Action Lawsuit Against Leidos Holdings, Inc.
RADNOR, Pa., April 12, 2021 (GLOBE NEWSWIRE) – Law firm Kessler Topaz Meltzer & Check, LLP announces that a class action lawsuit has been filed against Leidos Holdings, Inc. in the U.S. District Court for the southern borough of New York City. (NYSE: LDOS) (“Leidos”) on behalf of those who have bought or acquired Leidos securities between May 4, 2020 and February 23, 2021including (the “Class Period”).
Deadline of the main plaintiff: May 5, 2021
Leidos is a science, engineering and information technology company that provides services and solutions in the fields of defense, intelligence, homeland security, civil and health markets at home and abroad.
The complaint alleges that the defendants did not provide any material information to investors during the entire class period. In particular, Defendants did not disclose that: (1) the alleged benefits of Leidos ‘acquisition of L3Harris Technologies’ security detection and automation business were materially overestimated; (2) Leidos products suffered from numerous product defects, including defective explosion detection systems at airports, ports and borders. (3) As a result of the foregoing, Leidos’ financial results have been significantly overstated. and (4) as a result of the foregoing, Defendants ‘positive statements about Leidos’ business, operations and prospects were materially misleading and / or lacking a reasonable basis. As a result of the foregoing, Leidos securities depreciated significantly, which directly harmed Leidos investors.
Leido’s investors can no later than May 5, 2021, attempt to be appointed plaintiff’s principal representative of the class by Kessler Topaz Meltzer & Check, LLP, or other lawyer, or choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members and that the class member is adequately representing the class. Your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff.
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Kessler Topaz Meltzer & Check, LLP, pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of federal and state law. Kessler Topaz Meltzer & Check, LLP, is a driving force behind corporate governance reform and has reclaimed billions of dollars on behalf of institutional and individual investors from the US and around the world. The company represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and are involved in recovering government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. Further information on Kessler Topaz Meltzer & Check, LLP can be found at www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro Jr., Esq.
Adrienne Bell, Esq.
280 Street of the King of Prussia
Radnor, PA 19087
(844) 887-9500 (toll free)