The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Leidos Holdings, Inc. for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between May 4, 2020 and February 23, 2021, inclusive (the ”Class Period”), are encouraged to contact the firm before May 5, 2021.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Leidos significantly overstated the purported benefits of its acquisition of L3Harris’ Security Detection & Automation businesses. The Company’s products suffered from multiple defects, including faulty bomb detection systems installed at critical infrastructure points including airports and ports. The Company’s financial results were significantly overstated as a result. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Leidos, investors suffered damages.
The Schall Law Firm
Brian Schall, Esq.,