Pomerantz LLP is investigating claims on behalf of investors of Telos Corporation. Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Telos and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 15, 2021, Telos held an earnings call to discuss the Company’s financial results for the third quarter of 2021. During the call, Telos’s Chief Financial Officer, Mark Bendza, disclosed that the Company’s contracts with the Centers for Medicare and Medicaid Services (“CMS”) and U.S. Transportation Security Administration (“TSA”) would be delayed, with only the TSA contract commencing in 2022, while the CMS contract was pushed back until after 2022. During the call, Bendza acknowledged deficiencies in Telos’s past guidance process, stating that “going forward . . . I will guide based on what [we] have a high degree of visibility into at a point in time. And so, you’re going to see that in how we guide going forward.”
On this news, Telos’s stock price fell $6.84 per share, or more than 28%, to close at $17.54 per share on November 15, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980