NEW YORK, March 4, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Telos Corporation (NASDAQ: TLS).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/telos-corporation-loss-submission-form/?id=24264&from=4
The lawsuit seeks to recover losses for shareholders who purchased Telos between November 19, 2020 and November 12, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until April 8, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Telos Corporation issued materially false and/or misleading statements and/or failed to disclose that: (1) the Transportation Security Administration ("TSA") and Centers for Medicare and Medicaid Services ("CMS") contracts, which constituted a majority of the Company's future revenues, were not on track to commence as represented at the end of 2021 and in 2022; (2) Defendants lacked a reasonable basis and sufficient visibility to provide and affirm the Company's 2021 guidance in the face of the uncertainty surrounding the TSA and CMS contracts; (3) COVID-19- and hacking scandal-related headwinds were throwing off the timing for performance of the TSA and CMS contracts and their associated revenues; (4) as a result, the guidance provided by Defendants was not in fact "conservative"; (5) as a result of the delays, Telos would be forced to dramatically reduce its revenue estimates; and (6) as a result of the foregoing, Defendants' statements about Telos' business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:https://www.prnewswire.com/news-releases/tls-shareholder-alert-jakubowitz-law-reminds-telos-shareholders-of-a-lead-plaintiff-deadline-of-april-8-2022-301495347.html
SOURCE Jakubowitz Law
