LOS ANGELES–(BUSINESS WIRE)–$LDOS #CLASSACTION—Glancy Prongay & Murray LLP (“GPM”), a national investor rights law firm, continues its investigation on behalf of Leidos Holdings, Inc. (“Leidos” or the “Company”) (NYSE: LDOS) investors concerning the Company and its officers’ possible violations of the federal securities laws.
If you suffered a loss on your Leidos investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/leidos-holdings-inc/.You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On February 16, 2021, Spruce Point Capital Management published a report alleging, among other things, that “Leidos’ $1.0 billion levered acquisition of L3Harris’ Security Detection and Automation business (SD&A) is experiencing significant problems, including product defects, that increase the likelihood of a material adverse effect.” The report also alleged that the Company misstated revenue, citing for example, a $6 million variance between the third quarter 2020 investor presentation and Form 10-Q, which “raises the possibility that Leidos has booked fake revenue, or is keeping two sets of books.”
On this news, Leido’s stock price fell $3.41 per share, or 3.14%, to close at $105.22 per share on February 16, 2021, thereby injuring investors.
Whistleblower Notice: Persons with non-public information regarding Leidos should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the 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 Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].
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