Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until May 3, 2021 to file lead plaintiff applications in a securities class action lawsuit against Leidos Holdings, Inc. (NYSE: LDOS), if they purchased the Company’s securities between May 4, 2020 and February 23, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Leidos and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-ldos/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by May 3, 2021.
About the Lawsuit
Leidos and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 23, 2021, the Company disclosed disappointing 4Q and full year 2020 financial results, including only $163 million in sales (or $326 million annualized), falling well short of the projected $500 million sales, and expected cash flow of $850 million, well below analyst estimates of $1.083 billion. On this news, shares of Leidos fell $10.29, or 9.91%, to close at $93.51 per share on February 23, 2021.
The case is Morton v. Leidos Holdings, Inc., et al., 1:21-cv-01911.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
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Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner