New York, New York--(Newsfile Corp. - April 6, 2022) - Levi & Korsinsky, LLP notifies investors in Telos Corporation (NASDAQ: TLS) ("Telos" or the "Company") of a class action securities lawsuit.
The lawsuit on behalf of Telos investors has been commenced in the the United States District Court for the Eastern District of Virginia. Affected investors purchased or otherwise acquired certain Telos securities between November 19, 2020 and November 12, 2021. Follow the link below to get more information and be contacted by a member of our team:
https://www.zlk.com/pslra-1/telos-corporation-loss-submission-form?prid=25657&wire=5
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
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CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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.
WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Telos during the relevant timeframe, you have until April 8, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. Discuss your rights with our legal team without cost or obligation.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/telos-corporation-loss-submission-form?prid=25657&wire=5 or call 212-363-7500 to discuss the case.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119601
