{"id":470394,"date":"2021-04-02T15:44:14","date_gmt":"2021-04-02T19:44:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=470394"},"modified":"2021-04-02T15:44:14","modified_gmt":"2021-04-02T19:44:14","slug":"ldos-equity-alert-kessler-topaz-meltzer-check-llp-announces-that-a-securities-fraud-class-action-lawsuit-was-filed-on-behalf-of-investors-of-leidos-holdings-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ldos-equity-alert-kessler-topaz-meltzer-check-llp-announces-that-a-securities-fraud-class-action-lawsuit-was-filed-on-behalf-of-investors-of-leidos-holdings-inc\/","title":{"rendered":"LDOS EQUITY ALERT: Kessler Topaz Meltzer & Check, LLP Announces that a Securities Fraud Class Action Lawsuit was filed on Behalf of Investors of Leidos Holdings, Inc."},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n RADNOR, Pa.<\/span>, April 2, 2021<\/span> \/PRNewswire\/ —\u00a0The law firm of Kessler Topaz Meltzer & Check, LLP announces to Leidos Holdings, Inc. (NYSE: \u00a0LDOS) (“Leidos”) investors that a securities fraud class action lawsuit has been filed against on behalf of those who purchased or acquired Leidos securities between May 4, 2020<\/span> and February 23, 2021<\/span><\/i><\/b>, inclusive (the “Class Period”).<\/p>\n

\n

\n
\n \"KTMC
\n <\/a>\n <\/p>\n<\/p><\/div>\n

\n
\n Investor Deadline Reminder:\u00a0 Investors who purchased or acquired Leidos securities<\/i>
\n <\/b>
\n
\n during the Class Period may, no later than May 5, 2021<\/span><\/u>, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP:\u00a0 James Maro, Esq.<\/span> (484) 270-1453 or Adrienne Bell, Esq.<\/span> (484) 270-1435; toll free at (844) 887-9500; via e-mail at<\/i>
\n <\/b>
\n info@ktmc.com<\/a>; or<\/b>click <\/i><\/b>https:\/\/www.ktmc.com\/leidos-holdings-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=leidos<\/a>\u00a0<\/p>\n

Leidos is a science, engineering, and information technology company that provides services and solutions in the defense, intelligence, homeland security, civil and health markets, both domestically and internationally. <\/p>\n

According to the complaint, on February 16, 2021<\/span>, Spruce Point Capital Management LLC (“Spruce Point”) published a research report, alleging, among other things that “Leidos is potentially covering up at least $100m<\/span> of fictitious sales, mischaracterizing $355<\/span> – $367m<\/span> of international revenue.” Following this news, Leidos’s share price fell $2.58<\/span>, or 2.4%, to close at $105.22<\/span> per share on February 16, 2021<\/span>. <\/p>\n

Then, on February 24, 2021<\/span>, Spruce Point highlighted that Leidos had “materially expanded” the risk disclosures in its annual report for the year ended December 31, 2020<\/span>, which had been filed after the market closed on February 23, 2021<\/span>. Following this news, Leidos’s stock price fell $3.13<\/span>, or 3.3%, to close at $90.38<\/span> per share on February 24, 2021<\/span>. <\/p>\n

The complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (1) the purported benefits of Leidos’s acquisition of L3Harris Technologies’ Security Detection and Automation businesses were significantly overstated; (2) Leidos’s products suffered from numerous product defects, including faulty explosive detection systems at airports, ports, and borders; (3) as a result of the foregoing, Leidos’s financial results were significantly overstated; and (4) as a result of the foregoing, the defendants’ positive statements about Leidos’s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n

Leidos investors may, no later than May 5, 2021<\/span><\/u><\/i><\/b>, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP, or other counsel, or may choose to do nothing and remain an absent class member.\u00a0 A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.\u00a0 In order to be appointed as a 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 will adequately represent the class.\u00a0 Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.\u00a0 <\/p>\n

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States<\/span> and around the world. \u00a0The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).\u00a0 The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com<\/a>.<\/p>\n

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.<\/span>
Adrienne Bell, Esq.<\/span>
280 King of Prussia Road
Radnor, PA<\/span> 19087
(844) 887-9500 (toll free)
info@ktmc.com<\/a><\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/ldos-equity-alert-kessler-topaz-meltzer–check-llp-announces-that-a-securities-fraud-class-action-lawsuit-was-filed-on-behalf-of-investors-of-leidos-holdings-inc-301261185.html<\/a><\/p>\n

SOURCE Kessler Topaz Meltzer & Check, LLP<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire RADNOR, Pa., April 2, 2021 \/PRNewswire\/ —\u00a0The law firm of Kessler Topaz Meltzer & Check, LLP announces to Leidos Holdings, Inc. (NYSE: \u00a0LDOS) (“Leidos”) investors that a securities fraud class action lawsuit has been filed against on behalf of those who purchased or acquired Leidos securities between May 4, 2020 and February 23, 2021, inclusive (the “Class Period”). Investor Deadline Reminder:\u00a0 Investors who purchased or acquired Leidos securities during the Class Period may, no later than May 5, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP:\u00a0 James Maro, Esq. (484) 270-1453 or Adrienne … <\/p>\n

Continue reading “LDOS EQUITY ALERT: Kessler Topaz Meltzer & Check, LLP Announces that a Securities Fraud Class Action Lawsuit was filed on Behalf of Investors of Leidos Holdings, Inc.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-470394","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLDOS EQUITY ALERT: Kessler Topaz Meltzer & Check, LLP Announces that a Securities Fraud Class Action Lawsuit was filed on Behalf of Investors of Leidos Holdings, Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ldos-equity-alert-kessler-topaz-meltzer-check-llp-announces-that-a-securities-fraud-class-action-lawsuit-was-filed-on-behalf-of-investors-of-leidos-holdings-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LDOS EQUITY ALERT: Kessler Topaz Meltzer & Check, LLP Announces that a Securities Fraud Class Action Lawsuit was filed on Behalf of Investors of Leidos Holdings, Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire RADNOR, Pa., April 2, 2021 \/PRNewswire\/ —\u00a0The law firm of Kessler Topaz Meltzer & Check, LLP announces to Leidos Holdings, Inc. 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(NYSE: \u00a0LDOS) (“Leidos”) investors that a securities fraud class action lawsuit has been filed against on behalf of those who purchased or acquired Leidos securities between May 4, 2020 and February 23, 2021, inclusive (the “Class Period”). Investor Deadline Reminder:\u00a0 Investors who purchased or acquired Leidos securities during the Class Period may, no later than May 5, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP:\u00a0 James Maro, Esq. 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