{"id":473933,"date":"2021-04-08T16:59:17","date_gmt":"2021-04-08T20:59:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=473933"},"modified":"2021-04-08T16:59:17","modified_gmt":"2021-04-08T20:59:17","slug":"kessler-topaz-meltzer-check-llp-reminds-investors-of-deadline-in-securities-fraud-class-action-lawsuit-against-leidos-holdings-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kessler-topaz-meltzer-check-llp-reminds-investors-of-deadline-in-securities-fraud-class-action-lawsuit-against-leidos-holdings-inc\/","title":{"rendered":"Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline in Securities Fraud Class Action Lawsuit Against Leidos Holdings, Inc."},"content":{"rendered":"
\n

RADNOR, Pa., April 08, 2021 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Leidos Holdings, Inc. (NYSE: LDOS) (\u201cLeidos\u201d) on behalf of those who purchased or acquired Leidos securities between May 4, 2020 and February 23, 2021<\/em><\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n

\n
\n Investor Deadline Reminder: Investors who purchased or acquired Leidos securities<\/em>
\n <\/strong>
\n
\n during the Class Period may, <\/em>
\n <\/strong>
\n
\n
\n no later than May 5, 2021<\/u>
\n <\/em>
\n <\/strong>
\n
\n , 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: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at<\/em>
\n <\/strong>
\n info@ktmc.com<\/a>; or<\/strong>click <\/em><\/strong>https:\/\/www.ktmc.com\/leidos-holdings-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=leidos<\/a><\/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, Spruce Point Capital Management LLC (\u201cSpruce Point\u201d) published a research report, alleging, among other things that \u201cLeidos is potentially covering up at least $100m of fictitious sales, mischaracterizing $355 – $367m of international revenue.\u201d Following this news, Leidos\u2019s share price fell $2.58, or 2.4%, to close at $105.22 per share on February 16, 2021.<\/p>\n

Then, on February 24, 2021, Spruce Point highlighted that Leidos had \u201cmaterially expanded\u201d the risk disclosures in its annual report for the year ended December 31, 2020, which had been filed after the market closed on February 23, 2021. Following this news, Leidos\u2019s stock price fell $3.13, or 3.3%, to close at $90.38 per share on February 24, 2021.<\/p>\n

The complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (1) the purported benefits of Leidos\u2019s acquisition of L3Harris Technologies\u2019 Security Detection and Automation businesses were significantly overstated; (2) Leidos\u2019s products suffered from numerous product defects, including faulty explosive detection systems at airports, ports, and borders; (3) as a result of the foregoing, Leidos\u2019s financial results were significantly overstated; and (4) as a result of the foregoing, the defendants\u2019 positive statements about Leidos\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n

Leidos investors may, no later than May 5, 2021<\/u><\/em><\/strong>, 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. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member\u2019s claim is typical of the claims of other class members, and that the class member will adequately represent the class. 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 and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). 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:<\/p>\n

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


\n
\n \n <\/div>\n

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

RADNOR, Pa., April 08, 2021 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Leidos Holdings, Inc. (NYSE: LDOS) (\u201cLeidos\u201d) on behalf of those who purchased or acquired Leidos securities between May 4, 2020 and February 23, 2021, inclusive (the \u201cClass Period\u201d). Investor Deadline Reminder: 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 … <\/p>\n

Continue reading “Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline in Securities Fraud Class Action Lawsuit Against 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-473933","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nKessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline in Securities Fraud Class Action Lawsuit Against 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\/kessler-topaz-meltzer-check-llp-reminds-investors-of-deadline-in-securities-fraud-class-action-lawsuit-against-leidos-holdings-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline in Securities Fraud Class Action Lawsuit Against Leidos Holdings, Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"RADNOR, Pa., April 08, 2021 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Leidos Holdings, Inc. (NYSE: LDOS) (\u201cLeidos\u201d) on behalf of those who purchased or acquired Leidos securities between May 4, 2020 and February 23, 2021, inclusive (the \u201cClass Period\u201d). Investor Deadline Reminder: 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. 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