Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Leidos Holdings, Inc. (“Leidos”) (NYSE: LDOS) securities between May 4, 2020 and February 23, 2021, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company’s business, operations and. prospects. Specifically, the complaint alleges that Defendants failed to disclose to investors that: (1) the purported benefits of the company’s acquisition of L3Harris’ Security Detection & Automation businesses were significantly overstated; (2) Leidos’ products suffered from numerous product defects, including faulty explosive detection systems at airports, ports, and borders; (3) as a result of the foregoing, the company’s financial results were significantly overstated; and (4) as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On September 29, 2021, Lead Plaintiffs filed to voluntarily dismiss the case. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.